Last Trading Session: Indian Stock Market opened gap positive for the day. Nifty saw sharp positive movement but was not able to breach EquityPandit’s predicted resistance levels of 9000. EquityPandit predicted that Nifty is still in positive trend but would struggle to breach levels of 9000 and exactly same happened. Sensex also saw highs right near EquityPandit’s predicted resistance levels of 29560. BankNifty moved sharply positive and saw strong resistance right at EquityPandit’s predicted resistance levels of 20075. Finally, Indian stock Market closed positive for the day.
Today: Indian Stock Market would open flat with positive bias. Analysis would still remain same. Indian Stock Market is still in positive zone but Nifty would still struggle to breach EquityPandit’s resistance of 9000 levels by closing. Some profit booking can’t be ruled out before spot levels of 9000 for Nifty to get breached. Next logical target for Nifty is 9000-9050 levels. China rate cut would boost banking sector in Indian Stock Market and we could see banking sector moving further positive. Traders are suggested to go long at every downfall in the market with strict stoploss of 8770 spot levels for Nifty. BankNifty is in positive zone and would continue to move positive in days to come. FIIs were net buyers of Rs.424.79 crores whereas DIIs were net buyers of Rs.180.35 crores on Monday. Nifty would see strong support at 8885-8835-8770 levels whereas strong resistance would be seen at 9000-9020-9050 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8957) The support for the Nifty is 8885-8835-8770 and the resistance to the up move is at 9000-9020-9050 levels.
NSE BankNifty: (20008) The support for BankNifty is at 19920-19750-19500 and the resistance to the up move is at 20180-20380-20610 levels.
BSE Sensex: (29459) The support for the Sensex is at 29200-28940-28820 and the resistance to the up move is at 29580-29850-30000 levels.
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