Market To See Sharp Correction, Sell At Rally and book profits near supports
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that Market would see further correction and exactly same happened. EquityPandit also predicted that Market is in correction mode as of now. Nifty moved positive and fell down sharply to see lows right at EquityPandit’s predicted support levels of 8165 like a dot. BankNifty was also not able to sustain above 18000 levels and fell down sharply but saw strong support right near EquityPandit’s predicted support levels of 17800. Finally, Market closed negative for the day.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in positive zone but today chances are that it may enter into negative zone for short term. Further sharp correction is expected as of now that may take Nifty to 8120-8075 levels. Traders can sell at higher levels and book profits partially near EquityPandit’s predicted support levels. Nifty, if breaches 8160 levels, would slide down to 8120-8075 levels. Market would consolidate between 8000-8300 levels for some days before further positive movement. FIIs were net buyers of Rs.201.32 crores whereas DIIs were net sellers of Rs.165.62 crores in cash market for last trading session. Nifty would see strong support at 8120-8098-8075-8000 whereas strong resistance would be seen at 8205-8252-8294-8336 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
NSE Nifty: (8170) The support for the Nifty is 8120-8098-8075-8000 and the resistance to the up move is at 8205-8252-8294-8336 levels.
NSE BankNifty: (17829) The support for BankNifty is at 17760-17620-17470-17300 and the resistance to the up move is at 18000-18029-18139-18313 levels.
BSE Sensex: (26636) The support for the Sensex is at 26540-26380-26300-26110 and the resistance to the up move is at 26795-26837-26940-27030 levels.
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