Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that some bounceback can be seen in the market but it would be an opportunity for traders to go short as market is in negative trend and we can see some sharp downfall and exactly same happened. EquityPandit was the first research company to warn investors and traders about this downfall on August 19, 2014 when BankNifty was hovering around 18800 and Nifty was at 8500 levels. EquityPandit suggested traders to exit all long positions and initiate short position in the market. Traders who followed EquityPandit’s advice might have earned huge profits in the market. EquityPandit’s EP-BankNifty package subscribers also earned huge profits in this downtrend following EquityPandit’s recommendation. Finally, Indian Stock Market closed gap negative as per EquityPandit’s prediction.
Today: Indian Stock Market would open positive. Today, market would see some positive movement after couple of downtrends but it would be temporary in nature. Market would not be considered as bullish until it closes above 8090 levels. Breaching 8090 levels would develop a double bottom pattern that is bullish in nature and would force market to see 8400 levels. But for now, Indian Stock Market is still in negative zone where last support lies at 7665 levles, breaching which a further sharp downfall would be seen in the market. EquityPandit’s target for BankNifty of 15950-15500 levels are near to achieve. Overall, the trade is in negative direction and traders should go short at every positive movement in the market. FIIs were net sellers of Rs.1573.42 crores whereas DIIs were net buyers of Rs.880.27 crores in last trading session. Nifty would see strong support at 7665-7576-7500 whereas strong resistance would be seen at 7880-7910-8000-8060-8105 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: (7717) The support for the Nifty is 7665-7576-7500 and the resistance to the up move is at 7880-7910-8000-8060-8105 levels.
NSE BankNifty: (16253) The support for BankNifty is at 15950-15800-15500 and the resistance to the up move is at 16580-16740-16911 levels.
BSE Sensex: (25454) The support for the Sensex is at 25395-25232-25020-24890 and the resistance to the up move is at 25880-26011-26150 levels.
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