Market To Open Gap Negative, Go Long At Dips
Last Trading Session: EquityPandit Predicted that market would see some bounce and reversal would be seen if Nifty is able to hold 7715 levels and exactly same happened. EquityPandit also predicted that if Nifty closes above 7800 levels then we would consider that market has already bottomed out. Traders, who followed EquityPandit’s advice and went long might have earned huge profits in last 2 days. Nifty saw highs right at EquityPandit’s predicted resistance levels of 7900 like a dot. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is in positive zone but the news on Capital Gain Tax in new Mauritius Treaty would force market to see a sharp downfall. Anyways it would be temporary in nature and it is possible that market may recover after gap down opening. Traders should go long at sharp dip in the market. Now if Nifty closes above 8013 levels then it would form a solid Inverse Head and Shoulder Pattern (Bullish), that would confirm a Sharp breakout in complete Indian Stock Market including, Nifty, BankNifty and Sensex. FIIs were net buyers of Rs.328.59 crores whereas DIIs were net buyers of Rs.68.2 crores in cash market for last trading session. Nifty would see strong support at 7775-7730-7715-7680 whereas strong resistance would be seen at 7888-7926-7980-8005 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: Apollo Tyres, Asian Paints, Chambal Fertilizers, Gulf Oil, Havells India, Indian Bank, Kotak mahindra Bank, Oracle Financial Services Software, Oriental Bank Of commerce, South Indian Bank and Vakrangee.
NSE Nifty: (7888) The support for the Nifty is 7775-7730-7715-7680 and the resistance to the up move is at 7888-7926-7980-8005 levels.
NSE BankNifty: (16785) The support for BankNifty is at 16605-16540-16380-16260 and the resistance to the up move is at 16885-16950-17100-17160 levels.
BSE Sensex: (25773) The support for the Sensex is at 25540-25445-25365-25200 and the resistance to the up move is at 25885-25936-26035-26200 levels.
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