Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that Indian Stock Market is still in positive trend and even if some profit booking is seen, traders should hold their long positions or go long into the market. EquityPandit also predicted that any dip in the market would be an excellent opportunity for traders to go long and exactly same happened. EquityPandit was the only company that was bullish in the market and the market reacted in the same way. Nifty moved up sharply and saw strong resistance right at EquityPandit’s predicted resistance levels of 8490 levels. BankNifty breached EquityPandit’s levels of 18500 and saw a sharp positive movement as predicted by EquityPandit. BankNifty saw highs right near EquityPandit’s predicted resistance levels of 18640. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open flat. Greece woes still continues but Indian Stock Market has formed an Inverse head and shoulder pattern that is bullish in nature. Breaching the levels of 8490 for Nifty would confirm this bullish pattern and we can see much higher levels, may be 8700-8900 levels for Nifty. If it happens, BankNifty would be the major driving force in the positive side. Some profit booking can’t be ruled out but the trade is in the long side of the trend. 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. Both FIIs and DIIs were buyers in Indian Stock Market in last trading session. FIIs were net buyers of Rs.75.03 crores whereas DIIs were net buyers of Rs.52.12 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: (8453) The support for the Nifty is 8414-8400-8300 and the resistance to the up move is at 8490-8505-8567 levels.
NSE BankNifty: (18582) The support for BankNifty is at 18460-18350-18260 and the resistance to the up move is at 18640-18752-18832-18900 levels.
BSE Sensex: (28021) The support for the Sensex is at 27970-27910-27780 and the resistance to the up move is at 28100-18180-18300-18530 levels.
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