Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative. Equitypandit predicted that market is still in positive momentum and may see some profit booking but traders should go long at every dip. EquityPandit also predicted that BankNifty would possess strong resistance at 18500 levels by closing and it needs to close above those levels for Nifty to move up sharply and exactly same happened. Indian Stock Market saw strong profit booking while opening but recovered from day lows. BankNifty saw strong support at EquityPandit’s predicted support levels of 18260. Nifty also saw strong support at EquityPandit’s predicted support levels of 8320. Finally, Indian Stock Market recovered from day lows and moved up sharply as predicted by EquityPandit. BankNifty saw strong resistance at EquityPandit’s predicted levels of 18500 by closing and closed just below those levels. Finally, Indian Stock Market closed positive for the day. Traders, who followed EquityPandit’s advice to go long might have earned huge profits for the day.
Today: Indian Stock Market to open negative with 15-50 points for Nifty on Greece issues. Some profit booking would definitely be seen. Technically, analysis would still remain same. Nifty and BankNifty are still in positive trend and 18500 levels for BankNifty needs to be broken by closing, to push Nifty and BankNifty forward. Nifty is forming double bottom pattern that is bullish in nature but the pattern would be confirmed once Nifty closes above 8490 levels and if so happens, we would see sharp positive movement in market for another 300-400 points for Nifty. Till then market would consolidate in a rangebound region. FIIs were net buyers of Rs.280.21 crores whereas DIIs were net sellers of Rs.8.45 crores in last trading session. Nifty would see strong support at 8320-8260-8200 whereas strong resistance would be seen at 8446-8490 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8398) The support for the Nifty is 8320-8260-8200 and the resistance to the up move is at 8446-8490 levels.
NSE BankNifty: (18492) The support for BankNifty is at 18260-18160-18060 and the resistance to the up move is at 18500-18640-18756 levels.
BSE Sensex: (27896) The support for the Sensex is at 27614-27568-27450 and the resistance to the up move is at 27970-28071-28180 levels.
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