Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with with 20 points for Nifty. Nifty moved positive exactly as per EquityPandit’s predictions but was not able to breach EquityPandit’s predicted resistance levels of 8760 and hence fell down sharply. Sensex also saw strong resistance at EquityPandit’s predicted resistance levels of 28840 levels. Finally, Indian Stock Market closed negative for the day whereas BankNifty managed to close positive.
Today: Indian Stock Market to open gap positive with 40-80 points for Nifty. EquityPandit predicted that FED would continue the stimulus package for some time more and same happened. Now, 8760 would act as important closing levels for the Nifty. Nifty if closed above 8760 levels, then one should close all short positions and initiate long postions in Market as we may see new record highs in days to come. BankNifty would now see sharp positive movement. FIIs were net sellers of Rs.457.43 crores whereas DIIs were net sellers of Rs.882.99 crores on Wednesday. Nifty would see strong support at 8660-8610-8593 whereas strong resistance would be seen at 8760-8850-8920 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8686) The support for the Nifty is 8660-8610-8593 and the resistance to the up move is at 8760-8850-8920 levels.
NSE BankNifty: (19147) The support for BankNifty is at 18930-18780-18680 and the resistance to the up move is at 19380-19410-19780 levels.
BSE Sensex: (28622) The support for the Sensex is at 28540-28430-28380 and the resistance to the up move is at 28840-28970-29180 levels.
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