Market Would See Short Covering Rally For Today, Exit Polls After Market Hours
Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still weak and would see further correction until State Election Results are disclosed. Equitypandit also predicted that Nifty would see levels of 10650 and exactly same happened. Indian Stock Market saw sharp downfall as predicted by EquityPandit and Nifty achieved EquityPandit’s targets of 10650. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is in negative zone. But now market would see some short covering after 3 days of consecutive downfall. Nifty possess strong support at 10588 from where it has reversed in last tradding session. Now market should see some positive movement and would consolidate in a range. Market would wait for Exit polls that would be disclosed today after market hours. overall, today market would remain positive with some consolidation between EquityPandit’s predicted resistance and support levels.
FIIs were net buyers of Rs.72.47 crores whereas DIIs were net sellers of Rs.389.78 crores in cash market for last trading session. Nifty would see strong support at 10580-10550-10515-10465 whereas strong resistance would be seen 10662-10705-10765 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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Stocks In F&O Ban Period: NIL.
NSE Nifty: (10601) The support for the Nifty is 10580-10550-10515-10465 and the resistance to the up move is at 10662-10705-10765 levels.
NSE BankNifty: (26198) The support for BankNifty is at 26100-26078-26000-25840 and the resistance to the up move is at 26266-26325-26380-26450-26518 levels.
BSE Sensex: (35312) The support for the Sensex is at 35130-35070-35000-34970 and the resistance to the up move is at 35380-35440-35507-35660 levels.
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