Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that some sharp short covering rally (positive movement) can’t be ruled out at this point of time. Nifty moved sharply negative and saw lows right at EquityPandit’s predicted support levles of 8312 levels. Market recovered from there but saw strong resistance right at EquityPandit’s predicted resistance levels of 8370 levels. BankNifty moved up sharply and saw strong resistance right near EquityPandit’s predicted resistance levels of 18756. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open flat. Technically, BankNifty and Nifty are still in negative trend. Trend reversal may happend, if BankNifty breaches levels of 18808 by closing. If BankNifty closes above 18808, then traders should go long into BankNifty. Greece issue is still not solved and may create some whipsaws in the market. Some sharp short covering rally is not ruled out but for now, market is still in negative territory. Breaching levels of 8420 for Nifty would show some sign of strength. FIIs were net sellers of Rs.465.27 crores whereas DIIs were net buyers of Rs.590.49 crores in last trading session. Nifty would see strong support at 8312-8270-8195 whereas strong resistance would be seen at 8380-8420-8455-8505 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: INDUSINDBK, RIIL.
NSE Nifty: (8360) The support for the Nifty is 8312-8270-8195 and the resistance to the up move is at 8370-8420-8455-8505 levels.
NSE BankNifty: (18720) The support for BankNifty is at 18540-18270-18199-18080 and the resistance to the up move is at 18756-18855-19000 levels.
BSE Sensex: (27661) The support for the Sensex is at 27540-27470-27363 and the resistance to the up move is at 27800-27875-28012-28115 levels.
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