Market in Positive Trend, Go Long at Dips in the Market
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see sharp recovery today and once it breaches levels of 7820 for Nifty then it would see huge strength in the trend and exactly same happened. Market moved sharply positive as per EquityPandit’s predictions. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 17000 and closed just below those levels. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open positive. Today is F&O Expiry day and market would see huge volatility. Technically, Indian Stock Market has entered into positive zone and now traders should go long at every dip in the market. Nifty would see some strong resistance near 7980-8013 levels, breaching which Nifty would confirm Inverse Head and Shoulder Pattern that is bullish in nature. If Nifty breaches levels of 8013 then next targets for Nifty would be 8150-8250 levels. BankNifty would also see strong resistance near 17155 levels, breaching which a sharp breakout would be seen in BankNifty. Some profit booking may be seen near EquityPandit’s predicted resistance levels but traders can consider those profit bookings as an opportunity to go long in the market. FIIs were net buyers of Rs.495.08 crores whereas DIIs were net buyers of Rs.337.22 crores in cash market for last trading session. Nifty would see strong support at 7865-7850-7775-7730 whereas strong resistance would be seen at 7980-8005-8025-8080 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: BPCL, Credit Analysis and Research Ltd., EIH Ltd, FDC, Finolex Cables, Fortis Healthcare, GMDC, HT Media, Hathway Cable, India Cements, Jaypee Infratech Ltd, Jet Airways, KRBL, Mphasis, Neyveli Lignite Corporation Ltd, Novartis India, ONGC, Power Grid, Shipping Corporation Of India, Shree Cement, Sterlite Technologies, Tata Chemicals, Tata Teleservices, Titagarh Wagons, Trent, Union Bank Of India and United Spirits.
NSE Nifty: (7935) The support for the Nifty is 7865-7850-7775-7730 and the resistance to the up move is at 7980-8005-8025-8080 levels.
NSE BankNifty: (16997) The support for BankNifty is at 16921-16880-16780-16626 and the resistance to the up move is at 17100-17155-17218-17370 levels.
BSE Sensex: (25881) The support for the Sensex is at 25720-25630-25540-25445 and the resistance to the up move is at 25956-26035-26200 levels.
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