Overall Market Positive, RBI Policy to decide further Market direction
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that Indian Stock Market would see some correction as Global Markets are near strong resistance and exactly same happened. EquityPandit also predicted that traders should hold long positions until Nifty holds 7700 by closing and exactly same happened. Nifty opened negative and saw further downfall as predicted by EquityPandit. BankNifty also saw lows right near EquityPandit’s predicted support levels of 16012. Sensex also saw lows right near EquityPandit’s predicted support levels of 25110 levels. Traders, who followed EquityPandit’s advice might have earned decent profits for the day. Finally, Indian Stock Market recovered from day lows and managed to close above 7700 levels for Nifty, though in negative region.
Today: Indian Stock Market would open flat with positive bias for the day. Technically, Indian Stock Market is still in positive zone. Though US Dow Jones closed just below EquityPandit’s predicted resistance levels of 17800 like a dot, but now it looks that US Market would see positive momentum in days to come. For Indian Stock Market, the overall movement would be positive but RBI Policy holds the key for further direction. RBI Policy that is going to be disclosed on April 05, 2016, would decide further market movement. EquityPandit expects two possibilities either 50 bps rate cut or 25 bps rate cut. If RBI announced 50 bps rate cut, then the positive momentum would continue and we would see levels of 17000 for BankNifty in days to come. But if RBI announced 25 bps rate cut, then we would see some sharp negative jerk in the movement for the day but overall market would continue positive in days to come. Traders should go long and buy at dips in the market until Nifty closes below 7700 levels and BankNifty closes below 16000 levels. FIIs started the new financial year with net inflows. FIIs were again net buyers of Rs.214.01 crores whereas DIIs were net sellers of Rs.519.91 crores in last trading session. FIIs have closed March 2016 by net inflows of Rs.24,201.51 crores. Nifty would see strong support at 7700-7675-7645-7600 whereas strong resistance would be seen at 7750-7785-7805-7855 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: (7713) The support for the Nifty is 7700-7665-7645-7600 and the resistance to the up move is at 7750-7785-7805-7855 levels.
NSE BankNifty: (16175) The support for BankNifty is at 16012-15933-15819-15760 and the resistance to the up move is at 16200-16258-16380-16500 levels.
BSE Sensex: (25270) The support for the Sensex is at 25200-25110-25012-24950 and the resistance to the up move is at 25382-25572-25660-25831 levels.
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