Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market may open positive but overall Nifty and BankNifty has entered into negative territory and forming bearish triple top pattern and hence traders should short sell on every positive movement in the market and exactly same happened. Indian Stock Market opened positive as per EquityPandit predictions but was not able to maintain those levels and a sharp downfall was seen in the market. Nifty saw lows right near EquityPandit’s predicted support levels of 8669. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market to open negative. Currently, Nifty and BankNifty are still into negative territory and now every positive movement is a selling opportunity for traders. Some short covering can’t be ruled out but Overall, Market is forming triple top pattern, which is a bearish pattern. FIIs were net sellers of Rs.748.13 crores whereas DIIs were net buyers of Rs.290.48 crores on Tuesday. Nifty would see strong support at 8669-8592 levels whereas strong resistance would be seen at 8780-8892-9000 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8712) The support for the Nifty is 8669-8592 and the resistance to the up move is at 8780-8892-9000 levels.
NSE BankNifty: (19054) The support for BankNifty is at 18875-18740-18480 and the resistance to the up move is at 19270-19441-19550 levels.
BSE Sensex: (28710) The support for the Sensex is at 28580-28405-28180 and the resistance to the up move is at 28950-29060-29155 levels.
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