Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still in negative zone and the trade is to go short at every positive movement in the market and exactly same happened. Indian Stock Market fell down sharply, exactly as per EquityPandit’s predictions. Traders, who followed EquityPandit’s advice to go long might have earned huge profits for the day. Nifty saw lows right Near Equitypandit’s predicted support levels of 8050. Sensex also saw lows right at EquityPandit’s predicted support levels of 26580 like a dot. Finally, Indian Stock Market closed negative for the day exactly as per EquityPandit’s predictions.
Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market is still in negative zone. Closing below 8000 levels for Nifty would increase problems for Indian Stock Market and we could witness sharp down fall in that case. But now, some short covering can’t be ruled out. Now the major event that would decide the further market direction is Bihar Poll Results. Till then market would see sideways movement in a rangebound region and would see sector specific movement. Market would see major movement on Friday, November 06, 2015 based on Poll results predictions. A breakout or breakdown would be seen post Poll results on Monday, November 09, 2015. Traders should trade in small quantity until then, to avoid any type of risk. Bank Nifty looks stronger then Nifty and would definitely perform better than Nifty. One can go short in Nifty and long in Bank Nifty for low risk and good profits. FIIs were net sellers of Rs.1464.89 crores whereas DIIs were net buyers of Rs.1560.11 crores in last trading session. Nifty would see strong support at 8050-8000-7980-7950 whereas strong resistance would be seen at 8120-8180-8210-8250 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Important Results to be disclosed today: Adani Enterprises, Adani Ports, BBTC, India Cements, Indian Bank, JP Power, OBC, Reliance Capital, Sonata Software, United Breweries, United Spirits and VRL Logistics.
NSE Nifty: (8066) The support for the Nifty is 8050-8000-7980-7950 and the resistance to the up move is at 8120-8180-8210-8250 levels.
NSE BankNifty: (17355) The support for BankNifty is at 17060-16953-16875-16780 and the resistance to the up move is at 17450-17570-17660 levels.
BSE Sensex: (26657) The support for the Sensex is at 26580-26375-26300-26215 and the resistance to the up move is at 27950-27060-27165-27445 levels.
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