Last Trading Session: Exactly as predicted, Indian Stock Market opened positive. EquityPandit predicted that the trend is still positive and traders should still go long in the market and exactly same happened. Nifty moved sharply positive and consolidated in the range. Finally, Indian Stock Market closed positive right at EquityPandit’s predicted resistance levelwith BankNifty under some pressure.
Today: Indian Stock Market would open flat with negative bias. Market would now consolidate in a range where IT and Pharma would see some positive movement in days to come. BankNifty can see some profit booking. The right trade at this time is to go long in Nifty and hedge it with short in BankNifty. Anyhow, Nifty and BankNifty are still in positive zone at this point of time. FIIs were net buyers of Rs.447.9 crores whereas DIIs were net sellers of Rs.189.11 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: ARVIND, BAJAJELEC, BOMDYEING, BOROSIL, CUMMINSIND, ESCORTS, FORTIS, HAWKINCOOK, KEI, MONTECARLO, MOTHERSUMI, OFSS, OMAXE, POLARIS, PRAJIND, RUPA, SRF, SUNDRMBRAK, TALWALKARS, TATAGLOBAL and TRENT.
NSE Nifty: (8568) The support for the Nifty is 8500-8450-8410 and the resistance to the up move is at 8616-8650-8700 levels.
NSE BankNifty: (18929) The support for BankNifty is at 18780-18620-18475 and the resistance to the up move is at 19110-19200-19400 levels.
BSE Sensex: (28223) The support for the Sensex is at 28060-27980-27814-27700 and the resistance to the up move is at 28315-28480-28578-28641 levels.
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