Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that market would open positive and even some some temporary short covering (positive movement) but overall market direction is negative and traders should trade short in this market with strict stoploss of 8670 and exactly same happened. Nifty moved sharply positive but fell down sharply from day highs and traders who followed EquityPandit advice to go short might have earned huge profits for the day. Sensex also saw lows just near EquityPandit’s predicted support levels of 28180 and closed just above those support levels. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open negative. Technically, analysis would remain same and Indian Stock Market is still in negative trend hence we could see more downfall in days to come. Traders are suggested to continue or hold short positions and we could see target levels of 8500-8470 in days to come. Traders should consider strict stoploss in the range of 8645-8670 levels for Nifty, which looks hard to break in upcoming days on closing basis. Interestingly, FIIs and DIIs were both buyers in the market, yesterday. FIIs were net buyers of Rs.417.41 crores whereas DIIs were net buyers of Rs.403.91 crores on Monday. Nifty would see strong support at 8516-8500-8470-8430 whereas strong resistance would be seen at 8630-8645-8670 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8551) The support for the Nifty is 8516-8500-8470-8430 and the resistance to the up move is at 8630-8645-8670 levels.
NSE BankNifty: (18449) The support for BankNifty is at 18375-18225-18045 and the resistance to the up move is at 18595-18690-18780 levels.
BSE Sensex: (28192) The support for the Sensex is at 28045-27920-27760 and the resistance to the up move is at 28385-28485-28580-28650 levels.
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