Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that Indian Stock Market is still positive and Nifty would see strong resistance at 8490 by closing. EquityPandit also predicted that traders should buy BankNifty on dips as it would be major driving force in the positive side. Traders, who followed EquityPandit’s advice to go long in BankNifty might have earned huge profits for the day. Nifty saw strong resistance right at EquityPandit’s predicted resistance levels of 8490 and closed just below those levels. BankNifty also saw strong resistance right at EquityPandit’s predicted resistance levels of 18752 levels like a dot. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open gap negative as Greek said ‘No’ to bailout in key referendum. Now, market would see some sharp profit booking but until BankNifty closes below levels of 18350, we are still in positive trend. Closing below levels of 18350 for BankNifty would reverse the positive trend into permanent negative trend. Analysis would remain same. Breaching levels of 8414 by closing would be the first sign of weakness and the positive trend would be considered as a false trend if Nifty breaches the levels of 8300. If BankNifty doesn’t breaches levels of 18350 in next few days then Greece issue would fadeout and Indian Stock Market would continue to see positive movement in hopes of some key reforms in India. FIIs were net buyers of Rs.356.29 crores whereas DIIs were net sellers of Rs.220.61 crores in last trading session. Nifty would see strong support at 8414-8400-8300 whereas strong resistance would be seen at 8490-8505-8567 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (8485) The support for the Nifty is 8414-8400-8300 and the resistance to the up move is at 8490-8505-8567 levels.
NSE BankNifty: (18730) The support for BankNifty is at 18500-18460-18350-18260 and the resistance to the up move is at 18752-18832 levels.
BSE Sensex: (28093) The support for the Sensex is at 27905-27780-27635 and the resistance to the up move is at 28100-18180-18300-18530 levels.
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