Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive with 34 points for Nifty. EquityPandit predicted that the trend may change but currently the trend is negative and traders should trade short until Nifty breaches levels of 8200. EquityPandit also predicted that 7960 wold be last support for Nifty on closing basis and exactly same happened. Indian Stock Market opened positive but was not able to sustain higher levels and fell down sharply as already predicted by EquityPandit’s mathematical models. Nifty fell down sharply and saw some support levels at EquityPandit’s predicted first support level of 7997. After sustaining there for few hours, it fell down sharply and saw lows right at EquityPandit’s predicted support levels of 7960 like a dot. Finally, Nifty closed just above EquityPandit’s predicted support levels.
Today: Indian Stock Market to open gap negative. Technically, Indian Stock Market is still in negative trend and now it looks that Nifty would break levels of 7958 for the first time in year 2015. Trade is still in short side for traders. If the trend continues then Nifty may see levels of 7800-7640 in days to come. BankNifty is completely open on the downside and has no major support nearby and hence BankNifty can be shorted at this point of time for higher profits. Some short-covering rally may be seen but it would be temporary in nature as there is no strength seen in the trend. The biggest worry is the regular outflows seen by FIIs. FIIs were net sellers of Rs.622.89 crores whereas DIIs were buyers of Rs.589.29 crores in last trading session. Nifty would see strong support at 7924-7877-7841 whereas strong resistance would be seen at 8052-8100-8200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7965) The support for the Nifty is 7924-7877-7841 and the resistance to the up move is at 8052-8100-8200 levels.
NSE BankNifty: (17304) The support for BankNifty is at 17200-17150-16930-16780 and the resistance to the up move is at 17510-17745-17822 levels.
BSE Sensex: (26371) The support for the Sensex is at 26220-26092-25910 and the resistance to the up move is at 26527-26625-26780 levels.
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