Market To See Sharp Positive Movement, Hold Long Positions
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Market is still in positive zone and traders should hold long positions until Nifty holds 7842 levels. EquityPandit also predicted that Nifty would see some resistance at 8000 levels and exactly same happened. Indian Stock Market including Nifty and Sensex remained flat for the whole day. Finally, Indian Stock Market closed positive right at EquityPandit’s predicted resistance levels of 7980 for Nifty, like a dot.
Today: Indian Stock Market would open gap positive. Technically, Analysis would remain same. Indian Stock Market is still in positive zone and traders should continue to hold long positions for now. Traders can hold long positions until Nifty closes below 7878 levels. BankNifty reversal would be seen only once it closes below 16622 levels, until then one could go long at dips in the market. Today, Bank Of Japan Monetary Policy Decision would affect complete Asian Stock Market direction. Market is still looking strong and may see a sharp breakout once closes above 8000 levels for Nifty. FIIs were net buyers of Rs.411 crores whereas DIIs were net sellers of Rs.295.07 crores in cash market for last trading session. Nifty would see strong support at 7926-7873-7842-7825 whereas strong resistance would be seen at 8005-8025-8043-8091-8150 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 Today: ACC, Ambuja Cements, Dabur India, Granules India, HCL Technologies, HCC, Idea Cellular, Kajaria Ceramics, Nirlon, Tata Elxsi and Vedanta Ltd.
NSE Nifty: (7980) The support for the Nifty is 7926-7873-7842-7825 and the resistance to the up move is at 8005-8025-8043-8091-8150 levels.
NSE BankNifty: (16873) The support for BankNifty is at 16780-16622-16570 and the resistance to the up move is at 17000-17100-17155-17218 levels.
BSE Sensex: (26064) The support for the Sensex is at 25857-25622-25540-25445 and the resistance to the up move is at 26147-26200-26256-26340 levels.
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