Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market is still in negative zone and would see strong resistance near 8659 levels for Nifty. EquityPandit also predicted that 19110 would act as strong resistance for BankNifty and if it closes above those levels then it would enter into positive trend else negative trend would continue and exactly same happened. Indian Stock Market opened positive but saw strong resistance right near EquityPandit’s predicted resistance levels of 8659 for Nifty and 19110 levels for BankNifty. Indian Stock Market was not able to breach EquityPandit’s predicted resistance levels and fell down sharply and saw lows right near EquityPandit’s predicted support levels of 8567 for Nifty. Finally, Indian Stock Market closed negative for the day. BankNifty closed exactly at EquityPandit’s predicted support levels of 18865 like a dot.
Today: Indian Stock Market would open negative for the day. Technically, Analysis would still remain same and Indian Stock Market is still in negative trend. BankNifty if closes above 19110 levels then it would again enter into positive trend. Till then market is still negative and we could see some consolidation in this range. Traders should still hold their short levels until BankNifty breaches levels of 19110 by closing. Nifty, if closes above levels of 8645 levels then we could see levels of 8737-8800 in days to come but if Nifty doesn’t hold 8645 then a sharp downfall is intact. FIIs were net buyers of Rs.185.42 crores whereas DIIs were net sellers of Rs.276.69 crores in last trading session. Nifty would see strong support at 8559-8540-8496-8470 whereas strong resistance would be seen at 8659-8670-8710 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Read Nifty and Major Stocks Outlook for This Week
Important Results To Be Declared Today: ABB, ATUL, AXISBANK, BEL, CROMPGREAV, HITACHIHOM, KSBPUMPS, M&MFIN, RELIANCE, SUPREMEIND, TATAELXSI, TVSMOTOR and VIPIND.
NSE Nifty: (8590) The support for the Nifty is 8559-8540-8496-8470 and the resistance to the up move is at 8659-8670-8710 levels.
NSE BankNifty: (18865) The support for BankNifty is at 18734-18610-18533 and the resistance to the up move is at 19110-19376-19440 levels.
BSE Sensex: (28371) The support for the Sensex is at 28325-28245-28080 and the resistance to the up move is at 28550-28641-28765 levels.
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