Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias with just 6 points positive for Nifty. EquityPandit predicted that next logical target for Nifty would be 9000 levels which would act as strong resistance for Nifty and exactly same happened. Nifty moved positive and touched its target of 9000 levels for the first time and closed at record high levels just below EquityPandit’s predicted resistance levels of 9000 for Nifty. Finally, Indian Stock Market closed positive for the day with BankNifty seeing some pressure.
Today: RBI surprises with Repo Rate Cut. Indian Stock Market would gap positive with 80+ points for Nifty. BankNifty would see gap positive movement. Traders should go long. Nifty all set to breach record highs. BankNifty may see record highs in days to come. FIIs were net buyers of Rs.772.92 crores whereas DIIs were net sellers of Rs.303.88 crores on Tuesday. Nifty would see strong support at 8885-8835-8770 levels whereas strong resistance would be seen at 9120-9170 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8996) The support for the Nifty is 8885-8835-8770 and the resistance to the up move is at 9120-9170 levels.
NSE BankNifty: (19961) The support for BankNifty is at 19820-19740-19500 and the resistance to the up move is at 20380-20610-20870 levels.
BSE Sensex: (29594) The support for the Sensex is at 29360-29200-28940 and the resistance to the up move is at 29820-30000-30200 levels.
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