Last Trading Session: Indian Stock Market opened flat with positive bias for the day. As EquityPandit predicted that Nifty is in positive zone and Bank Nifty is in negative zone and exactly same happened. We have seen sharp positive movement in Nifty whereas BankNifty was under pressure for the day. Nifty and Sensex closed right above EquityPandit’s predicted important levels of 7880 for Nifty and 25950 levels for Sensex, confirming the strength in the trend. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Today the first discussion would be heard in winter session of Parliament and it would surely affect Indian Stock Market direction. Now everything depends on passing of key reforms. If that happens, market may see new highs in upcoming months else it would shed down in upcoming months. Technically, Analysis would still remain same. For now, Nifty is in positive zone but BankNifty is still in negative zone. Bank Nifty would enter into positive zone once it breaches levels of 17290. Traders can go long until Nifty holds 7800 levels but major trading should be done only when Both the major indices: Nifty and BankNifty to enter in same zone, either positive or negative. Once this happens, traders can go long or short accordingly. FIIs were net sellers of Rs.398.1 crores whereas DIIs were net buyers of Rs.948.98 crores in last trading session. Nifty would see strong support at 7850-7815-7800-7765 whereas strong resistance would be seen at 7926-7958-7980-8005 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: (7884) The support for the Nifty is 7850-7815-7800-7765 and the resistance to the up move is at 7926-7958-7980-8005 levels.
NSE BankNifty: (17037) The support for BankNifty is at 16960-16875-16750-16580 and the resistance to the up move is at 17140-17240-17480-17570 levels.
BSE Sensex: (25959) The support for the Sensex is at 25890-25760-25695-25590 and the resistance to the up move is at 26060-26180-26220-26340 levels.
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