Market To See Sharp Recovery Today
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that 7715 is important level to watch out for Nifty and breaching which Nifty would see a sharp downfall. EquityPandit also predicted that 7715 levels would act as strong support for Nifty and exactly same happened. Nifty moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 7715 like a dot. Nifty recovered from EquityPandit’s supports of 7715 and closed positive for the day.
Today: Indian Stock Market would open gap positive. Technically, Analysis would still remain same and Indian Stock Market is still in negative zone but some sharp positive reaction can’t be ruled out at this point of time. Nifty needs to breach 7820 levels to see strength in the trend and until then it should be considered as short on positive rally type of market. 7715 would still be an important closing levels, below which Nifty would see a sharp downfall. Traders should wait for some positive rally and can go short again at higher levels. Few important results like L&T and Tatasteel would be disclosed today that would decide further market direction. FIIs were net sellers of Rs.815.53 crores whereas DIIs were net buyers of Rs.989.95 crores in cash market for last trading session. Nifty would see strong support at 7715-7700-7675-7606 whereas strong resistance would be seen at 7816-7830-7865-7888 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: Abbott India, AIA Engineering, Apollo Hospitals, Ashok Leyland, Bajaj Auto, Bajaj Holdings, Bosch Ltd, Container Corporation Of India, Cummins India, Engineers India, Escorts ltd, GAIL, Glaxosmithkline Pharma, Godrej Industries, HCL Infosystem, Info Edge, Kwality Ltd, Lakshmi Machine, L&T, PFC, Prism Cement, Schneider Electric, TV Today Network, Tata Steel, Thermax and VIP Industries.
NSE Nifty: (7746) The support for the Nifty is 7715-7700-7675-7606 and the resistance to the up move is at 7816-7830-7865-7888 levels.
NSE BankNifty: (16457) The support for BankNifty is at 16377-16260-16188-16011 and the resistance to the up move is at 16640-16780-16940-17000 levels.
BSE Sensex: (25305) The support for the Sensex is at 25110-25012-24950 and the resistance to the up move is at 25437-25572-25660-25790 levels.
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