Market in positive zone but would see sharp profit booking today
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Nifty and BankNifty has entered into positive zone and traders should go long at this point of time and exactly same happened. EquityPandit also predicted that FED rate hike would provide a positive jerk to the Indian Stock Market and exactly same happened. Traders, who followed EquityPandit’s advice to go long in last trading session, might have earned huge profits for the day. BankNifty saw strong resistance right near EquityPandit’s predicted resistance levels of 16780. Finally, Indian stock Market closed gap positive for the day.
Today: Indian Stock Market would open gap negative. Technically, Nifty and BankNifty are still in positive zone but some sharp profit booking (negative movement) can’t be ruled out at this point of time. We may see some negative trends in the market for today. The strategy is to go long only at dips. Overall Market is still positive but the positive momentum is not strong enough as of now. Breaching EquityPandit’s predicted resistance levels would force market to see a sharp breakout from consolidation. FIIs were net buyers of Rs.638.01 crores whereas DIIs were net sellers of Rs.366.23 crores in last trading session. Nifty would see strong support at 7715-7680-7625-7600 whereas strong resistance would be seen at 7770-7825-7864-7880 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: (7844) The support for the Nifty is 7780-7735-7715-7680 and the resistance to the up move is at 7864-7888-7925-7980 levels.
NSE BankNifty: (16742) The support for BankNifty is at 16650-16560-16514-16380 and the resistance to the up move is at 16780-16940-17015-17111 levels.
BSE Sensex: (25804) The support for the Sensex is at 25660-25540-25445-25365 and the resistance to the up move is at 25885-25936-26016-26060 levels.
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