Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. Nifty moved positive but saw highs right near EquityPandit’s predicted resistance levels of 8297 like a dot and fell down sharply from there. Nifty fell down sharply from EquityPandit’s predicted resistance levels and saw lows right at EquityPandit’s predicted support levels of 8230 like a dot. Sensex also saw day highs and lows right at EquityPandit’s predicted resistance and support levels of 27445 and 27200 like a dot. Traders, who followed EquityPandit’s predicted resistance and support levels might have earned good profits for the day. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open flat. Technically, analysis would still remain same and market may consolidate for timebeing. Indian Stock Market is still in positive zone. The trade is only to buy at dips. Some profit booking can be seen in the market but it would be an opportunity for traders to go long in the market. Bank Nifty would now see major resistance at 18000, breaching which, it would achieve EquityPandit’s Second target of 18220. Breaching levels of 17700 for Bank Nifty by closing would force Bank Nifty to enter in negative zone and traders should exit long positions and initiate short positions in that case. FIIs were net buyers of Rs.523.69 crores whereas DIIs were net sellers of Rs.354.96 crores in last trading session. Nifty would see strong support at 8230-8180-8150-8100 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: BAJAJ-AUTO, CAIRN INDIA, HDFCBANK, IDEA, IBULHSGFIN, IBREAL, IRB, JSWSTEEL, M&MFIN, MAHINDRACIE, TATA COFFEE and WIPRO.
NSE Nifty: (8262) The support for the Nifty is 8230-8180-8150-8100 and the resistance to the up move is at 8297-8347-8372 levels.
NSE BankNifty: (17830) The support for BankNifty is at 17700-17660-17500 and the resistance to the up move is at 18000-18120-18220 levels.
BSE Sensex: (27307) 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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