Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Nifty had a long consolidation session and we may see a strong breakout or breakdown now and exactly same happened. Nifty saw sharp breakout. Indian Stock Market saw sharp positive movement. Nifty closed just below EquityPandit’s predicted resistance levels of 8130 levels. BankNifty also saw highs exactly near EquityPandit’s predicted resistance levels of 17790. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open positive with 10-40 points for Nifty. Technically, Indian Stock Market is still in negative trend. Nifty would enter into positive trend once it closes above 8150 levels. 8200 level is still an important level to watch before we go long in Nifty. BankNifty would enter into positive territory, once it closes above 17800 and if it does so, then traders can go long in BankNifty. For now, market is still in negative territory for trading. The biggest worry is the regular outflows seen by FIIs. FIIs were net sellers of Rs.482.11 crores whereas DIIs were buyers of Rs.788.06 crores in last trading session. Nifty would see strong support at 8080-7997-7960 whereas strong resistance would be seen at 8200-8235-8270 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8124) The support for the Nifty is 8080-7997-7960 and the resistance to the up move is at 8200-8235-8270 levels.
NSE BankNifty: (17782) The support for BankNifty is at 17635-17485-17350 and the resistance to the up move is at 17980-18085 levels.
BSE Sensex: (26840) The support for the Sensex is at 26700-26500-26420 and the resistance to the up move is at 26960-27015-27277 levels.
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