Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that we may see further profit booking in Indian Stock Market and one can take short position once downtrend is confirmed below 8500 levels and exactly same happened. Indian Stock Market saw sharp profit booking and market breached EquityPandit predicted levels of 8500 confirming the downtrend. Breaching 8500 levels forced Nifty to move sharply negative and traders who followed EquityPandit’s advice might have earned huge profits for the day. Nifty closed just above EquityPandit’s predicted support levels of 8450 for the day. BankNifty also closed right near EquityPandit’s predicted support levels of 18620. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open gap negative. Now market has entered into negative region as EquityPandit predicted yesterday and traders can go for short selling at every upmove in the market. Now Nifty is capped at 8556 levels on the positive side whereas downside is open. Traders can go short in BankNifty for higher profits as BankNifty has also entered into short-term negative trend. Some short covering would definitely be seen in the market but every positive movement would be an opportunity for traders to go for short-selling in the market. FIIs were net sellers of Rs.736.81 crores whereas DIIs were net buyers of Rs.130.74 crores in last trading session. Nifty would see strong support at 8410-8380-8350-8286 whereas strong resistance would be seen at 8505-8530-8560-8616 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: ABIRLANUVO, ALEMBICLTD, ANANTRAJ, ASHOKLEY, AUROPHARMA, BALRAMCHIN, CADILAHC, COALINDIA, DHANBANK, DHANUKA, GESHIP, GOODYEAR, HONDAPOWER, HOTELEELA, IDBI, INDHOTEL, INDIACEM, JINDALSTEL, MAHABANK, MAX, MERCK, MOIL, NATCOPHARM, OIL, RELINFRA, SCI, TIMKEN, VOLTAS, VSTIND, WHEELS, WONDERLA and ZICOM.
NSE Nifty: (8462) The support for the Nifty is 8410-8380-8350-8286 and the resistance to the up move is at 8505-8530-8560-8616 levels.
NSE BankNifty: (18617) The support for BankNifty is at 18475-18400-18187 and the resistance to the up move is at 18720-18920-19110 levels.
BSE Sensex: (27866) The support for the Sensex is at 27700-27635-27529 and the resistance to the up move is at 28020-28124-28215 levels.
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