Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with 57 points for Nifty and 160 points for Sensex. EquityPandit predicted that market would see sharp short covering (Positive movement) at this point of time and exactly same happened. EquityPandit also predicted that market would witness cyclic movement where one positive day and another negative and same happened. Market saw sharp positive movement in last trading session as predicted by EquityPandit. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Bank Nifty saw lows right at EquityPandit’s predicted support levels of 18875 like a dot. Nifty saw highs right near EquityPandit’s predicted resistance levels of 7850 and closed just below those levels. Sensex also saw highs just near EquityPandit’s predicted levels of 25890 levels. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Bank Nifty has again entered into negative zone and Nifty was still in negative zone. Yesterday, Equitypandit predicted that market would see sharp positive movement and traders should go short at that point. Today, traders would get the chance to book profits in that short position. Overall, market would remain in same range until next week when Parliament session would start to discuss the GST bill. Fresh direction would depend on the passing of the bill. For now, technical indicators are negative. Breaching levels of 7715 would force Nifty to see levels of 7600 and even 7500 at some point of time. Whereas Nifty would see some strength and would enter into positive zone once it closes above 7850-7860 levels. The good news is that Nifty trendline of lower region has moved higher around 7500. So, 7500 would possibly the bottom of the market in near term. FIIs were net sellers of Rs.343.18 crores whereas DIIs were net buyers of Rs.233.82 crores in last trading session. Nifty would see strong support at 7765-7715-7680 whereas strong resistance would be seen at 7860-7880-7926-7958 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
NSE Nifty: (7843) The support for the Nifty is 7765-7715-7680 and the resistance to the up move is at 7860-7880-7926-7958 levels.
NSE BankNifty: (17072) The support for BankNifty is at 16960-16875-16750 and the resistance to the up move is at 17140-17240-17480-17570 levels.
BSE Sensex: (25841) The support for the Sensex is at 25695-25590-25450-25380 and the resistance to the up move is at 25890-25950-26060-26180 levels.
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