Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit already predicted that market would consolidate for time being. EquityPandit predicted that Market is currently in positive region but would see strong resistance at 8297 levels for Nifty and 27445 for Sensex. EquityPandit also predicted that 17700 is important closing levels for Bank Nifty, below which Bank Nifty would enter into negative zone and exactly same happened. Market moved positive but saw highs right at EquityPandit’s predicted resistance levels of 8297 for Nifty and 27445 for Sensex like a dot. Bank Nifty moved sharply negative but managed to close above EquityPandit’s predicted support levels of 17700 and saved Bank Nifty from entering into negative zone. Sensex also saw lows right at EquityPandit’s predicted support levels of 27200 like a dot. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open gap positive. Technically, analysis would still remain same. For now Market is still in positive zone. 17670 is now important level for Bank Nifty, closing below which, Bank Nifty would enter in negative zone and traders should go short in that case. Market is just near its support and some further profit booking would force market to see sharp downfall. Trade is to go short only below EquityPandit’s levels of 17670 for Bank Nifty and 8180 for Nifty but for now Market is still in positive zone and traders should go long with strict stoploss of these levels. FIIs were net sellers of Rs.48.33 crores whereas DIIs were net sellers of Rs.138.73 crores in last trading session. Nifty would see strong support at 8200-8180-8150-8100 whereas strong resistance would be seen at 8297-8347-8372 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
Important Results to be disclosed today: ASIANPAINTS, GSFC, INOX LEISURE, RALLISINDIA and VIPIND.
NSE Nifty: (8252) The support for the Nifty is 8200-8180-8150-8100 and the resistance to the up move is at 8297-8347-8372 levels.
NSE BankNifty: (17711) The support for BankNifty is at 17665-17660-17500-17380 and the resistance to the up move is at 18000-18120-18220 levels.
BSE Sensex: (27288) The support for the Sensex is at 27200-27000-26850 and the resistance to the up move is at 27445-27565-27607 levels.
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