Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still in negative trend and traders should go short at every positive movement in the market. EquityPandit also predicted that it looks hart to breach levels of 8000-7960 in last trading session and Nifty would see sideways movement for now and exactly same happened. Traders, who followed EquityPandit’s advice, might have earned huge profits for the day. Nifty saw strong support at EquityPandit predicted support levels of 7997 levels. Sensex also saw lows near EquityPandit’s predicted support levels of 26420 levels. finally, Indian Stock Market closed flat with negative bias for the day.
Today: Indian Stock Market to open negative. Technically, Indian Stock Market is still in negative trend and it looks that today, Nifty may breach levels of 8000 on negative side. Traders should go short at every positive movement in the market with strict closing stoploss of 8200 levels for Nifty. Now 7960 would be last support for Nifty and breaching which, Nifty would see sharp downfall. We may see some short-covering rally that would be temporary in nature. Nifty had a long consolidation session and we may see a sharp breakout or breakdown in the market. The biggest worry is the regular outflows seen by FIIs. FIIs were net sellers of Rs.654.02 crores whereas DIIs were buyers of Rs.692.29 crores in last trading session. Nifty would see strong support at 7997-7960-7924 whereas strong resistance would be seen at 8060-8130-8200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8022) The support for the Nifty is 7997-7960-7924 and the resistance to the up move is at 8060-8130-8200 levels.
NSE BankNifty: (17490) The support for BankNifty is at 17350-17245-17000 and the resistance to the up move is at 17600-17790-17980 levels.
BSE Sensex: (26481) The support for the Sensex is at 26420-26000 and the resistance to the up move is at 26605-26820-26960 levels.
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