Market To Open Negative, Breakout If Nifty Closes Above 7910
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market would see sharp correction for the day within a range of 7780 and 7910 and exactly same happened. Nifty moved sharply negative and saw strong support near Equitypandit’s predicted support levels of 7815. Finally, Market recovered from day lows but closed negative for the day. Sensex also saw lows right at EquityPandit’s predicted support levels of 25500 like a dot. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in positive zone. Market needs to close above 7910 levels for Nifty to see a sharp breakout. Nifty, if closes above 7910 then traders can go long for huge profits until then market would remain rangebound and possibility of sudden downfall would persist. Closing below 7780 suggest a sharp breakdown and closing above 7910 suggests a sharp breakout. If Nifty closes above 7910 then it would see a non-stop positive movement upto 8150 levels. FIIs were net sellers of Rs.250.70 crores whereas DIIs were net buyers of Rs.239.91 crores in cash market for last trading session. Nifty would see strong support at 7815-7780-7730-7715 whereas strong resistance would be seen at 7896-7926-7980 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: CESC, Dishman Pharma, GHCL, Gujarat Pipavav Port, GSPL, ICRA, IRB Infra, Lupin, Pidilite Industries, Sobha and SpiceJet.
NSE Nifty: (7870) The support for the Nifty is 7815-7780-7730-7715 and the resistance to the up move is at 7896-7926-7980 levels.
NSE BankNifty: (16729) The support for BankNifty is at 16605-16518-16380-16190 and the resistance to the up move is at 16890-16950-17100-17160 levels.
BSE Sensex: (25705) The support for the Sensex is at 25685-25578-25500-25445 and the resistance to the up move is at 25885-25956-26060 levels.
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