Last Trading Session: Indian Stock Market opened flat. Exactly as EquityPandit’s prediction, a sharp positive movement was seen in Pharma and IT stocks. Traders who followed EquityPandit’s advice to go long in Pharma and IT shares might have earned huge profits for the day. EquityPandit predicted that market would consolidate at this point of time but overall market is still positive for now and exactly same happened. Nifty and BankNifty consolidated for the first half session and then moved sharply positive. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 19110. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open flat with negative bias. Market is still in positive zone and traders should continue to hold long positions for now. Breaching levels of 19110 would push BankNifty to achieve targets of 19200-19400. 8500 is important level to watch out for. One can continue to go long in Nifty stocks until Nifty holds 8500 levels. FIIs were net buyers of Rs.108.93 crores whereas DIIs were net sellers of Rs.111.78 crores in last trading session. Nifty would see strong support at 8500-8450-8410 whereas strong resistance would be seen at 8616-8650-8700 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
Important Results To Be Declared Today: BHEL, CORPBANK, COX&KINGS, FINOLEXIND, FRL, GRASIM, GSPL, JSL, KALPATPOWR, RATNAMANI, RECLTD, RKFORGE, SOBHA, TATAMOTORS, TATAMTRDVR, TTKHEALTH and ZEEMEDIA.
NSE Nifty: (8589) The support for the Nifty is 8550-8500-8450-8410 and the resistance to the up move is at 8616-8650-8700 levels.
NSE BankNifty: (19029) The support for BankNifty is at 18780-18620-18475 and the resistance to the up move is at 19110-19200-19400 levels.
BSE Sensex: (28298) The support for the Sensex is at 28060-27980-27814-27700 and the resistance to the up move is at 28480-28578-28641 levels.
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