Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative with 100 points for Nifty. EquityPandit predicted that Indian Stock Market would see sharp profit booking but until BankNifty closes below levels of 18350 we are still in positive trend. EquityPandit predicted that Greece issue would fadeout and Indian Stock Market would continue to see positive movement and exactly same happened. Indian Stock Market saw sharp profit booking and Sensex saw lows right at EquityPandit’s predicted support levles of 27280 but recovered smartly to end in sharp positive territory. Nifty saw strong resistance at EquityPandit’s predicted resistance levels of 8500 but finally breached it and confirmed the bullish pattern as predicted by EquityPandit. BankNifty also moved up sharply and closed just below EquityPandit’s predicted resistance levels of 18832. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market to open gap flat for the day. Market are still in positive trend and has confirmed bullish Head and Shoulder pattern. This bullish pattern suggests that next target for Nifty would be 8700-8800. Anyhow, trade is still in positive direction and traders should still hold their long positions or go for long position. If Nifty holds levels of 8500 by closing then BankNifty would cross levels of 19000 and may touch levels of 19500 in days to come. FIIs were net buyers of Rs.149.37 crores whereas DIIs were net sellers of Rs.409.66 crores in last trading session. Nifty would see strong support at 8450-8414-8380 whereas strong resistance would be seen at 8571-8640-8700 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
NSE Nifty: (8522) The support for the Nifty is 8450-8414-8380 and the resistance to the up move is at 8571-8640-8700 levels.
NSE BankNifty: (18825) The support for BankNifty is at 18635-18500-18460 and the resistance to the up move is at 18923-19120-19170 levels.
BSE Sensex: (28204) The support for the Sensex is at 28080-27974-27905-27780 and the resistance to the up move is at 28300-28530-28641 levels.
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