A Big Breakout or Breakdown is just round the corner
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that the Indian Stock Market is in positive zone but trend is loosing momentum as of now and we can see more profit booking for now. EquityPandit also predicted that traders should sell on rally and buy on dips and exactly same happened. Market moved up sharply and saw highs right at EquityPandit’s predicted resistance levels of 7880 for Nifty like a dot. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 17480. Market fell down from EquityPandit’s predicted resistance levels and saw lows right near EquityPandit’s predicted support levels. Traders, who followed EquityPandit’s advice to sell on rally near EquityPandit’s predicted resistance levels might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open negative with 15-50 points for Nifty and 50-150 points for Sensex. Technically, Nifty and Bank Nifty are in positive trend but as suggested yesterday, market is loosing its positive momentum as of now. Market has consolidated a lot and a big movement (either a breakout or a breakdown) would be seen in just next few days. Nifty would enter into negative zone once it closes below 7879 whereas BankNifty would enter into negative zone once it closes below 17165 levels by closing. Bank Nifty or Nifty, if closes below these levels then traders should initiate a fresh short. For now, traders should continue to hold long positions with suggested stoplosses. Yesterday, after a long time, FIIs were net buyers of Rs.60.61 crores whereas DIIs were net sellers of Rs.78.31 crores in last trading session. Nifty would see strong support at 7880-7850-7815-7800 whereas strong resistance would be seen at 7980-8008-8055-8105 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: (7931) The support for the Nifty is 7880-7850-7815-7800 and the resistance to the up move is at 7980-8008-8055-8105 levels.
NSE BankNifty: (17218) The support for BankNifty is at 17195-17050-16960-16875 and the resistance to the up move is at 17480-17570-17652-17827 levels.
BSE Sensex: (26118) The support for the Sensex is at 25950-25890-25760-25695 and the resistance to the up move is at 26180-26260-26340-26432 levels.
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