Last Trading Session: Indian Stock Market opened flat with positive bias. EquityPandit predicted that Indian Stock Market has entered into positive trend and we could see further short covering rally but market would still consolidate in the same range and exactly same happened. Indian Stock Market opened positive. Sensex saw highs right at EquityPandit’s predicted resistance levels of 25880. BankNifty also saw highs right at EquityPandit’s preidcted resistance levels of 16780 like a dot and fell down sharply. Nifty saw lows right near EquityPandit’s predicted support levels of 7750. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open positive. Technically, Analysis would still remain same. Indian Stock Market has entered into very short term positive trend and now we could see further short covering. Now the breakout or breakdown from current region would be led by upcoming news of US FED decision, RBI Rate Cut, etc. For now, traders should continue to buy on dips with strict stoploss of 16200 levels for BankNifty and 7553 levels for Nifty and should reverse their positions once these levels are breached on closing basis. FIIs were the sellers for whole of the September 2015 and it looks like the trend may continue until any clear decision is been taken by US Fed. FIIs were net sellers of Rs.754.27 crores whereas DIIs were net buyers of Rs.411.43 crores in last trading session. Nifty would see strong support at 7750-7665-7553-7500 whereas strong resistance would be seen at 7865-7880-7910-7962 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: (7789) The support for the Nifty is 7750-7665-7553-7500 and the resistance to the up move is at 7865-7880-7910-7962 levels.
NSE BankNifty: (16613) The support for BankNifty is at 16500-16300-16200-15950 and the resistance to the up move is at 16780-16911-17060 levels.
BSE Sensex: (25610) The support for the Sensex is at 25500-25395-25232-25020 and the resistance to the up move is at 25880-26011-26150 levels.
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