Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative and saw a sharp downfall. EquityPandit predicted that market would see a sharp downfall and traders can go short with the target of 18000-17800 for BankNifty and 8200 levels for Nifty, which would act as strong support levels. EquityPandit also predicted that one can take the short position home if BankNifty closes below levels of 18147 on spot basis else should consider market is positive trend and exactly same happened. Indian Stock Market moved down sharply and saw lows right near EquityPandit’s predicted support levels of 8200 for Nifty and 17800 levels for BankNifty. Market recovered sharply from EquityPandit’s predicted support levels but anyhow closed negative for the day. Finally, Nifty closed right on EquityPandit’s predicted support levels of 8320. Traders who followed EquityPandit’s advice might have earned huge profits for the day on both sides of trade.
Today: Indian Stock Market to open negative.Today, Indian Stock Market may see some profit booking but overall market is still in positive trend. BankNifty would enter into negative trend, if it breaches spot levels of 18147 on closing basis. Till then, traders can continue to hold their long position. 18147 is an important level for BankNifty on spot basis, below which we have shorting opportunity and above which, traders should go long in the market. Nifty has entered into weekly buying mode and hence overall market is in positive trend on weekly basis. Profit booking can take market near to the levels of 8200-8100 but that would be an excellent opportunity for traders to go long. Overall, market would see a sideways movement between 8100-8490 levels for Nifty for next couple of days. Breaching levels of 8490 would force market to see new highs but before that we would see sharp profit booking taking market near to 8200-8100 levels couple of times. FIIs were net sellers of Rs.711.88 crores whereas DIIs were net buyers of Rs.906.38 crores in last trading session. Nifty would see strong support at 8260-8200-8100 whereas strong resistance would be seen at 8365-8446-8490 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8318) The support for the Nifty is 8260-8200-8100 and the resistance to the up move is at 8365-8446-8490 levels.
NSE BankNifty: (18241) The support for BankNifty is at 18060-17950-17800 and the resistance to the up move is at 18300-18500-18640 levels.
BSE Sensex: (27645) The support for the Sensex is at 27568-27450-27300-27200 and the resistance to the up move is at 27720-27970-28071 levels.
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