Market May See Some Consolidation, Go Long At Sharp Dips
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market would remain positive until Nifty holds 8480 levels and exactly same happened. Indian Stock Market remained rangebound for the day between EquityPandit’s predicted support and resistance levels. Finally, Market closed flat with negative bias.
Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market is still in positive zone. Now, some correction can’t be ruled out but it would be temporary in nature until Nifty closes below 8480 levels. Market would consolidate in a rangebound region before any further positive rally. Overall Market is positive for now and traders can go long at every sharp dip in the market and book profits near EquityPandit’s predicted resistance levels. Nifty would face immediate resistance between 8550-8600 levels. Breaching levels of 8480 for Nifty would force market to see some further correction.
FIIs were net buyers of Rs.290.53 crores whereas DIIs were net sellers of Rs.654.73 crores in cash market for last trading session. Nifty would see strong support at 8480-8445-8415-8350 whereas strong resistance would be seen at 8567-8580-8605-8630 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: (8520) The support for the Nifty is 8480-8445-8415-8350 and the resistance to the up move is at 8567-8580-8605-8630 levels.
NSE BankNifty: (18619) The support for BankNifty is at 18540-18465-18380-18260 and the resistance to the up move is at 18756-18888-19000 levels.
BSE Sensex: (27815) The support for the Sensex is at 27660-27568-27450-27300 and the resistance to the up move is at 27950-28018-28071-28218 levels.
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