Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with more than 100 points for Nifty. Equitypandit predicted that Indian Stock Market would see sharp positive movement and may enter into positive zone. Indian Stock Market exactly reacted in the same way and moved sharply positive but unfortunately, market couldn’t hold higher levels. Market fell down sharply from day highs on account of profit booking resisting from staying in positive zone. Finally, Nifty closed right below EquityPandit’s predicted resistance levels of 8005 like a dot.
Today: Indian Stock Market would open negative. Indian Stock Market is still in negative trend and was not able to breach EquityPandit’s levels of 17465 levels for Bank Nifty. BankNifty would enter into positive trend only if it closes above 17465 levels. Today, if BankNifty doesn’t breaches levels of 17465 by closing then a big downfall is intact as complete Banking sector would enter into long term negative trend and market can see new 52 week lows in upcoming days. To save market from long-term negative trend, August month closing (today’s closing) should be above 17840 levels that looks little hard to achieve and hence downtrend is intact. FIIs were net buyers of Rs.56.41 crores whereas DIIs were net buyers of Rs.847.43 crores in last trading session. Nifty would see strong support at 7927-7864-7770-7725 whereas strong resistance would be seen at 8060-8105-8200-8322 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: (8002) The support for the Nifty is 7927-7864-7770-7725 and the resistance to the up move is at 8060-8105-8200-8322 levels.
NSE BankNifty: (17212) The support for BankNifty is at 17160-17060-16885 and the resistance to the up move is at 17390-17520-17660-17870 levels.
BSE Sensex: (26392) The support for the Sensex is at 26140-25940-25700 and the resistance to the up move is at 26560-26730-26880 levels.
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