Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened 11 points positive for Nifty. EquityPandit predicted that Nifty would move positive but some profit booking can’t be ruled out and exactly same happened. Nifty opened positive but went down sharply and saw strong support near EquityPandit’s predicted support levels of 8390. Indian Stock Market recovered again. BankNifty also saw strong resistance near EquityPandit’s predicted resistane levels of 18620. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market to open flat with negative bias. Analysis would still remain same. Technically, Nifty is still in positive zone and we would continue to see positive movement in days to come. Next target for Nifty would be 8500-8620 levels. Some profit booking can’t be ruled out as market but overall, Indian Stock Market would be in positive trend. Traders should go long at every dip in the market specially, Nifty and BankNifty. FIIs were net sellers of Rs.186.26 crores whereas DIIs were buyers of Rs.404.01 crores in last trading session. Nifty would see strong support at 8380-8320-8270 whereas strong resistance would be seen at 8510-8620 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results to be declared today: BBTC, CEATLTD, FINANTECH, GSPL, ITC, KTKBANK, MPHASIS, NATCOPHARM, NBCC, PUNJLLOYD, SBIN, STAR, TEXRAIL, TIMKEN and TWL.
NSE Nifty: (8421) The support for the Nifty is 8380-8320-8270 and the resistance to the up move is at 8510-8620 levels.
NSE BankNifty: (18513) The support for BankNifty is at 18430-18320-18210 and the resistance to the up move is at 18620-18700-18900 levels.
BSE Sensex: (27809) The support for the Sensex is at 27500-27370-27150 and the resistance to the up move is at 28088-28180-28300 levels.
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