Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 55 points for Nifty. EquityPandit predicted that we can now see some correction (positive movement) in the market where 8735 would be resistance for closing levels and exactly same happened. Nifty moved sharply positive as predicted by EquityPandit. Nifty also corrected in between but again catched the fire to move sharply positive. Nifty saw strong resistance near EquityPandit’s predicted resistance levels of 8735 and closed just below those levels. BankNifty also just closed below EquityPandit’s predicted resistance levels of 19070 like a dot. Finally, Indian Stock market closed gap positive for the day.
Today: Indian Stock Market to open gap positive with 20-50 points for Nifty. Now global market is under pressure before FED meeting and Indian Stock market is still looking for direction, which would be confirmed tomorrow after FED Meeting. If FED announces for the discontinuity of the stimulus then we could see sharp down fall, may be another 200-300 points for Nifty but it looks that FED may continue stimulus package for some time more. Now, 8760 would act as important closing levels for the Nifty. Nifty if closed above 8760 levels, then one should close all short positions and initiate long postions in Market as we may see new record highs in days to come, only if Nifty closes above 8760 levels. 8610 levels would now act as strong support levels, which if breached then Nifty would see sharp downfall. FIIs were net buyers of Rs.265.52 crores whereas DIIs were net sellers of Rs.243.69 crores on Tuesday. Nifty would see strong support at 8610-8593-8500 whereas strong resistance would be seen at 8735-8760-8850 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8723) The support for the Nifty is 8610-8593-8500 and the resistance to the up move is at 8735-8760-8850 levels.
NSE BankNifty: (19058) The support for BankNifty is at 18780-18680-18440 and the resistance to the up move is at 19120-19380-19410 levels.
BSE Sensex: (28736) The support for the Sensex is at 28430-28380-28185 and the resistance to the up move is at 28840-28970-29180 levels.
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