Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would enter into positive zone and traders should go long in Nifty and Bank Nifty above levels of 7760 and 16465 respectively and exactly same happened. Traders, who followed EquityPandit’s advice to go long might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open gap negative. Market would consolidate in a rangebound region for now. Indian Stock Market has entered into very short term positive trend and now we could see further short covering. For now, traders should 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. This current uptrend is not convincing and may end up with a big downfall in upcoming days. Even in last two days of sharp bounceback rally, FIIs were the sellers, which is a warning of further downfall in upcoming weeks. FIIs were net sellers of Rs.452.13 crores whereas DIIs were net buyers of Rs.1194.58 crores in last trading session. Nifty would see strong support at 7750-7665-7553-7500 whereas strong resistance would be seen at 7880-7910-8000-8060 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: (7819) The support for the Nifty is 7750-7665-7553-7500 and the resistance to the up move is at 7880-7910-8000-8060 levels.
NSE BankNifty: (16632) The support for BankNifty is at 16300-16200-15950-15800 and the resistance to the up move is at 16780-16911-17060 levels.
BSE Sensex: (25716) 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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