Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that Nifty can move sharply positive and may enter in positive trend today but BankNifty needs to perform now for Nifty to sustain those levels and exactly same happened. Indian Stock Market moved sharply positive and saw strong resistance exactly near EquityPandit’s predicted resistance levels of 27195 for Sensex. Nifty also breached the reversal levels and entered into positive trend which was equally supported by BankNifty. BankNifty closed right below EquityPandit’s predicted resistance levels of 17740. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open gap positive with 15-50 points for Nifty. Technically, Nifty and BankNifty has entered into positive trend and traders can now go long at every dip in the market. Some profit booking can be seen but it would be an opportunity for traders to go long in the market. Now EquityPandit’s Nifty target of 8200-8230 looks to achieve today. FIIs were still huge net sellers of Rs.784.73 crores whereas DIIs were buyers of Rs.1110.01 crores in last trading session. Nifty would see strong support at 8098-8048 whereas strong resistance would be seen at 8205-8230-8066 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits. Click Here to Get Market Outlook for Nifty and all Major Indices this week.
NSE Nifty: (8175) The support for the Nifty is 8098-8048 and the resistance to the up move is at 8205-8230-8266 levels.
NSE BankNifty: (17734) The support for BankNifty is at 17620-17470-17330 and the resistance to the up move is at 17822-17980-18240 levels.
BSE Sensex: (27116) The support for the Sensex is at 27010-26900-26720 and the resistance to the up move is at 27195-27380-27507 levels.
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