Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Indian Stock Market would see sharp negative movement and if levels of 19500 is breached for BankNifty then we could see a sharp fall in the banking sector and exactly same happened. Nifty moved sharply negative breaching all the support for Nifty. BankNifty saw lows right at EquityPandit’s predicted support levels of 19110 like a dot. Sensex also closed just above EquityPandit’s predicted support levels of 28820. Finally, Indian Stock Market crashed with more than 2% for the day and closed in deep negative region.
Today: Indian Stock Market to open flat with positive bias. Some short-covering (Positive movement) can’t be ruled out today after the deep correction that happened yesterday. Currently, Nifty and BankNifty has entered into negative territory and now every positive movement is a selling opportunity for traders. Overall, Market is forming triple top pattern, which is a bearish pattern. FIIs were still buyers for the day that leaves few hopes of good reaction (Positive movement) to yesterday’s downfall. FIIs were net buyers of Rs.838.30 crores whereas DIIs were net sellers of Rs.35.31 crores on Monday. Nifty would see strong support at 8740-8669-8592 levels whereas strong resistance would be seen at 8892-9000-9120 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8757) The support for the Nifty is 8740-8669-8592 and the resistance to the up move is at 8892-9000-9120 levels.
NSE BankNifty: (19146) The support for BankNifty is at 19110-18977-18740 and the resistance to the up move is at 19441-19550-19780 levels.
BSE Sensex: (28845) The support for the Sensex is at 28798-28692-28405 and the resistance to the up move is at 29060-29155-29320 levels.
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