Market Would Continue To See Positive Trend, Buy At Dips
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Technically, Indian Stock Market is in positive zone but exit announcement of RBI Governor, Raghuram Rajan would force market to see sharp downfall. EquityPandit also predicted that market would recover this downfall again and exactly same happened. Indian Stock Market opened gap negative but recovered as Brexit fears eases. Nifty saw strong support at EquityPandit’s predicted support levels of 8098 and strong resistance near EquityPandit’s predicted resistance levels of 8252. Finally, Indian Stock Market recovered and closed positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive trend. Market would continue to see positive rally for now. Once Nifty breaches levels of 8300, it would see a big breakout. BRexit decision during UK Referendum on June 23, 2016 would decide further market direction. If the country decides to stay in European Union, Market would see a sharp breakout and may see levels of 8400-8500 for Nifty. Traders should go long at every dip in the market. FIIs were net sellers of Rs.537.46 crores whereas DIIs were net buyers of Rs.724.06 crores in cash market for last trading session. Nifty would see strong support at 8200-8165-8098 whereas strong resistance would be seen at 8272-8294-8332-8385 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: (8239) The support for the Nifty is 8200-8165-8098 and the resistance to the up move is at 8272-8294-8332-8385 levels.
NSE BankNifty: (17718) The support for BankNifty is at 17620-17470-17330 and the resistance to the up move is at 17830-18000-18052-18139 levels.
BSE Sensex: (26867) The support for the Sensex is at 26720-26540-26300 and the resistance to the up move is at 26940-27030-27195 levels.
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