Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that since IIP and Inflation numbers were positive and hence some short covering rally can’t be ruled out at this point of time and exactly same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 8433 for Nifty. Sensex also saw highs right near EquityPandit’s predicted resistance levels of 27800. GST was not passed as predicted by EquityPandit and hence a sharp intraday fall was seen but finally, Indian Stock Market managed to close positive for the day.
Today: Indian Stock Market would open positive. Indian Stock Market is in negative trend but expectations of RBI cutting the key rates due to lower than expected Inflation numbers and higher than expected IIP data, would take market positive. BankNifty would again enter into positive trend once it closes above 18540 levels. For now market is in negative region and traders should wait for these levels to breach before entering going long into the market. FIIs were net sellers of Rs.625.90 crores whereas DIIs were net buyers of Rs.545.86 crores in last trading session. Nifty would see strong support at 8320-8286-8226-8195 whereas strong resistance would be seen at 8380-8433-8450-8505 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Declared Today: AMARARAJA, AMTEKAUTO, BEML, BPCL, BHUSHANSTEL, BIRLACORP, CIPLA, HINDALCO, IVRCL, JETAIR, JINDALSAW, KSKENERGY, MTNL, MANAPPURAM, PIPAVAVDEFENCE, PFC, PUNJLLOYD, PURAVANKARA, RELCAPITAL, RCOM, ROLTA, SAIL, TRIVENITURBINE, VAKRANGEE and VIDEOCON.
NSE Nifty: (8356) The support for the Nifty is 8320-8286-8226-8195 and the resistance to the up move is at 8380-8433-8450-8505 levels.
NSE BankNifty: (18175) The support for BankNifty is at 17820-17750-17565 and the resistance to the up move is at 18320-18450-18500 levels.
BSE Sensex: (27550) The support for the Sensex is at 27416-27350-27200-27146 and the resistance to the up move is at 27720-27800-27885 levels.
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