Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that analysis would still remain same and some profit booking can be seen in the market and exactly same happened. Nifty saw highs right near EquityPandit’s predicted resistance levels of 8207. Sensex also saw strong resistance near EquityPandit’s predicted resistance levels of 27120. Finally, Indian Stock Market saw sharp profit booking and closed right near EquityPandit’s predicted support levels of 8125 levels for Nifty and 26850 levels for Sensex.
Today: Indian Stock Market would open gap positive. Technically, Analysis would still remain same. Market is in positive zone and traders should go long at every dip in the market. 8100 is important level for Nifty to watch out for, closing below 8100, would confirm weakness in Nifty. Nifty would enter into negative zone once it closes below levels of 8035, until then one should hold long positions for the targets of 8207 and 8350. Bank Nifty would enter into negative zone once it closes below 17210 levels, below which one should go short in BankNifty but for now, it is in positive zone and traders should go long at every dip in the market for the targets of 17850 and and 18220. FIIs were net sellers of Rs.48.89 crores whereas DIIs were net sellers of Rs.299.75 crores in last trading session. Nifty would see strong support at 8100-8035-8005-7980 whereas strong resistance would be seen at 8180-8207-8230-8297 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: (8129) The support for the Nifty is 8125-8100-8035-8005 and the resistance to the up move is at 8207-8230-8297-8350 levels.
NSE BankNifty: (17474) The support for BankNifty is at 17365-17200-16950 and the resistance to the up move is at 17650-17850-18120-18220 levels.
BSE Sensex: (26846) The support for the Sensex is at 26850-26660-26580-26375 and the resistance to the up move is at 27100-27140-27445-27565 levels.
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