Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. BankNifty moved positive but saw strong resistance at EquityPandit’s predicted resistance levels of 17660 like a dot. Market was not able to sustain the positive trend and hence witnessed strong selling pressure. Market fell down sharply and BankNifty closed right at EquityPandit’s predicted support levels of 17028 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap negative. Nifty has entered into negative zone and today, if market falls further than Bank Nifty would also enter into negative zone. Traders should go short at this point of time. Global market was hurt by Volkswagen news and hence witnessed strong selling. Today’s downfall would confirm a long downtrend and Nifty may again head towards recent lows of 7540 levels. FIIs were net sellers of Rs.1052.24 crores whereas DIIs were net buyers of Rs.378.26 crores in last trading session. Nifty would see strong support at 7785-7736-7678-7625 whereas strong resistance would be seen at 7930-8000-8021-8055 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: (7812) The support for the Nifty is 7785-7736-7678-7625 and the resistance to the up move is at 7930-8000-8021-8055 levels.
NSE BankNifty: (17031) The support for BankNifty is at 16875-16780-16680-16515 and the resistance to the up move is at 17225-17354-17570-17660 levels.
BSE Sensex: (25652) The support for the Sensex is at 25530-25395-25287-25119 and the resistance to the up move is at 25725-25855-26040-26340 levels.
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