Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that Indian Stock Market is still in negative trend and traders can hold their short position until Nifty breaches 8645 levels and BankNifty breaches 19110 levels and exactly same happened. Nifty held EquityPandit’s predicted support levels of 8559 for first half of trading session but breached those levels to fell down sharply as predicted by EquityPandit. Market fell down sharply from there and closed gap negative for the day. Traders who followed EquityPandit’s advice to hold their short positions might have earned huge profits for the day. BankNifty also saw lows right at EquityPandit’s predicted support levels of 18610 like a dot. Sensex also saw lows right at EquityPandit’s predicted support levels of 28080 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap negative for the day. Now, we are into F&O Expiry week and huge volatility would be seen in a rangebound region Technically, Analysis would still remain same and Indian Stock Market is still in negative trend. Trade is in short side only and if Nifty breaches levels of 8500 by closing then a sharp fall can’t be ruled out in days to come. 8500 for Nifty is an important level to be looked out for. The only trade as of now for traders is to either go short or hold short positions in the market. FIIs were net buyers of Rs.6.62 crores whereas DIIs were net buyers of Rs.196.38 crores in last trading session. Nifty would see strong support at 8496-8470-8400 whereas strong resistance would be seen at 8600-8659-8670 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: AMBUJACEM, BINANIIND, CENTURYTEX, INOXWIND, JINDALSAW, JUSTDIAL, MAHINDCIE, MRF, NAUKRI, TECHM and TORNTPHARM.
NSE Nifty: (8522) The support for the Nifty is 8496-8470-8400 and the resistance to the up move is at 8600-8659-8670 levels.
NSE BankNifty: (18636) The support for BankNifty is at 18499-18400-18321 and the resistance to the up move is at 18775-18860-19110 levels.
BSE Sensex: (28112) The support for the Sensex is at 28030-27897-27774 and the resistance to the up move is at 28250-28400-28550 levels.
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