Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. Indian Stock Market consolidated with sideways movement even after the positive news of Iran Nuclear Deal. Nifty consolidated between EquityPandit’s predicted support and resistance of 8415 and 8505 levels respectively. Sensex saw strong resistance right near EquityPandit’s predicted resistance levels of 28012. Finally, Indian Stock Market closed flat with negative bias.
Today: Indian Stock Market to open positive. Technically, Analysis would remain same. Nifty and BankNifty has entered into positive trend and traders can continue to hold long positions for now. Greece issue already resolved and now most awaited Iran nuclear deal also sanctioned. So, paint companies like Asian Paints and Berger paints would be beneficiary. Oil Marketing companies like Castrol India, HPCL and BPCL would also be benefited with this deal. Now BankNifty needs to breach levels of 19000 on closing basis for markets to see a bounceback rally. Indian Stock Market is expected to see sharp sharp positive rally in days to come and the best trade is to go long in BankNifty at this point of time. If Government pushes some reforms in days to come then it would add fuel to the positive fire in the market. FIIs were net buyers of Rs.269.9 crores whereas DIIs were net sellers of Rs.130.9 crores in last trading session. Nifty would see strong support at 8415-8350-8312 whereas strong resistance would be seen at 8505-8567-8605 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: SouthBank, ZEEL.
NSE Nifty: (8454) The support for the Nifty is 8415-8350-8312 and the resistance to the up move is at 8505-8567-8605 levels.
NSE BankNifty: (18780) The support for BankNifty is at 19730-18650-18540 and the resistance to the up move is at 19000-19051-19176 levels.
BSE Sensex: (27933) The support for the Sensex is at 27890-27635-27540 and the resistance to the up move is at 28012-28115-28340 levels.
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