Some Correction Expected but Nifty Headed Towards 8900-9000, Go Long At Every Dip
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market is ready for a big movement on the reaction of Budget and yesterday was the biggest movement on the budget day in 12 years. EquityPandit also predicted that BankNifty is in positive zone and if Nifty breaches levels of 8669 then a sharp positive rally would be seen and exactly same happened. Indian Stock Market moved sharply positive post budget backed by BankNifty rally. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market moved sharply positive for the day.
Today: Indian Stock Market would open negative. Technically, Indian STock Market is in positive zone including Nifty, Sensex and BankNifty. We would see some profit booking after a big yesterday’s rally but overall market is now headed towards 9000 levels for Nifty. Traders should go long at every dip in the market. BankNifty is very strong and would see further rally in days to come.
FIIs were net buyers of Rs.92.73 crores whereas DIIs were net buyers of Rs.1133.74 crores in cash market for last trading session. Nifty would see strong support at 8675-8615-8600-8570-8550 whereas strong resistance would be seen at 8741-8775-8800-8830 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 To Be Disclosed Today: Dr Lal Pathlabs, GE Power, Glenmark Pharma, Godfrey Philips India Ltd., Godrej Propreties, HCC, HSIL, Marico, Redington India, Sundram Fasteners, Take Solutions, Timken India and Vijaya Bank.
NSE Nifty: (8716) The support for the Nifty is 8675-8615-8600-8570-8550 and the resistance to the up move is at 8620-8665-8707-8740-8800 levels.
NSE BankNifty: (20021) The support for BankNifty is at 19890-19835-19760-19650 and the resistance to the up move is at 20180-20270-20380-20576 levels.
BSE Sensex: (28114) The support for the Sensex is at 28050-27950-27870-27736 and the resistance to the up move is at 28180-28294-28340-28500 levels.
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