Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened 35 points positive for Nifty. EquityPandit predicted that Nifty and BankNifty are in positive trend and traders should go long at every dip in the market. EquityPandit also predicted that BankNifty is much discounted as compared to Nifty and hence we would see bigger positive movement as compared to Nity, so traders should go long in BankNifty to earn higher profits and exactly same happened. BankNifty soared with almost 3% in intraday movement and closed at 2.54% positive. Traders, who followed EquityPandit advice to go long in BankNifty might have earned whooping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open flat with positive bias. Technically, Nifty and BankNifty is still in positive trend. Some profit booking can be seen as market is heading towards F&O Expiry but it would be an opportunity for traders to go long in the market. Overall, market is in positive momentum and now the major resistance would be 8500 levels, which if breached, Nifty may head towards new highs else again it would consolidate in the range. FIIs after long 11 selling sessions, saw some buying in the Indian Stock market. FIIs were net buyers of Rs.651.31 crores whereas DIIs were net sellers of Rs.94.03 crores in last trading session. Nifty would see strong support at 8260-8200-8165 whereas strong resistance would be seen at 8385-8446-8490 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: (8353) The support for the Nifty is 8260-8200-8165 and the resistance to the up move is at 8385-8446-8490 levels.
NSE BankNifty: (18335) The support for BankNifty is at 18260-18160-18060 and the resistance to the up move is at 18560-18640-18756 levels. Click Here to read EquityPandit’s Outlook for BankNifty and its main components for this week
BSE Sensex: (27730) The support for the Sensex is at 27568-27450-27400 and the resistance to the up move is at 27910-28071 levels.
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