Market To See Some Bounce, Go Long With Stoploss Of 8688 For Nifty Spot Levels
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market is still in negative zone but would consolidate in a rangebound region. EquityPandit also predicted that Indian Stock Market would see immediate support at 8688 levels for Nifty and 19730 levels for BankNifty and exactly same happened. Indian Stock Market moved sharply negative but managed to hold EquityPandit’s support levels of 8688 for Nifty. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 19955 like a dot and moved down sharply from there but saw lows right at EquityPandit’s predicted support levels of 19730 like a dot. EquityPandit suggested traders to keep EquityPandit’s support and resistance levels in mind before taking trading decisions. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed flat with minor pressure on BankNifty.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone but looks like market would see some bounce from here on the note of short covering. Intraday traders can go long with Strict stoploss at EquityPandit’s predicted support levels. Traders can take long positions home if Nifty manages to close above 8800 levels and BankNifty above 20080 levels. Breaching 8688 levels will force Indian Stock Market to see further downfall, so traders can go long with strict stoploss of 8688 levels for Nifty on spot basis.
FIIs were net buyers of Rs.345.42 crores whereas DIIs were net sellers of Rs.456.91 crores in cash market for last trading session. Nifty would see strong support at 8688-8665-8630-8600-8570 whereas strong resistance would be seen at 8775-8800-8830-8850 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 Q1 Results To Be Disclosed Today: Syndicate Bank.
NSE Nifty: (8743) The support for the Nifty is 8688-8665-8630-8600-8570 and the resistance to the up move is at 8775-8800-8830-8850 levels.
NSE BankNifty: (19838) The support for BankNifty is at 19730-19595-19495-19306 and the resistance to the up move is at 19955-20001-20140-20350 levels.
BSE Sensex: (28413) The support for the Sensex is at 28312-28250-28183-28110and the resistance to the up move is at 28500-28660-28780 levels.
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