Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive. EquityPandit predicted that Bank Nifty has entered into positive zone and Nifty needs to breach levels of 7850 to enter the positive zone. EquityPandit also predicted that traders should trade long at every dip in the market and exactly same happened. Traders, who followed EquityPandit’s advice to go long in Nifty at every dip might have earned huge profits for the day. Nifty and Sensex closed right below EquityPandit’s predicted resistance levels of 7850 and 25870 respectively.
Today: Indian Stock Market would open flat. Technically, Bank Nifty has entered into positive zone but Nifty is still in negative zone. Nifty needs to close above levels of 7850 to enter the positive zone until then it would see huge pressure. If Nifty doesn’t closes above 7850, then it would drag Bank Nifty in negative zone again, which would be worse for the market. Parliament session that is going to be started from next week would play major role in further market direction. It looks hard to get GST bill passed in this session and hence there are very strong chances that Nifty and Bank Nifty may again enter in long downtrend. It’s time to wait for Nifty to close above 7850 levels. If so happens, then traders should go long in Nifty and Bank Nifty for good profits. FIIs were net sellers of Rs.492.45 crores whereas DIIs were net buyers of Rs.783.02 crores in last trading session. Nifty would see strong support at 7780-7750-7730-7680 whereas strong resistance would be seen at 7850-7880-7927-7950 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: (7838) The support for the Nifty is 7780-7750-7730-7680 and the resistance to the up move is at 7850-7880-7927-7950 levels.
NSE BankNifty: (17140) The support for BankNifty is at 17080-16960-16875-16750 and the resistance to the up move is at 17240-17480-17570 levels.
BSE Sensex: (25864) The support for the Sensex is at 25695-25590-25500-25380 and the resistance to the up move is at 25950-26000-26060-26180 levels.
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