Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that Indian Stock Market and especially BankNifty would hold the levels in expectations of RBI rate cut. EquityPandit also predicted that every dip in the market is buying opportunity and exactly same happened. Indian Stock Market crashed but again recovered sharply giving traders an opportunity to go long on dips as per EquityPandit’s suggestions. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Nifty saw strong resistance exactly near EquityPandit’s predicted resistance levels of 8531 and fell down from there to close just above EquityPandit’s predicted support levels of 8450. Sensex and BankNifty also saw strong support near EquityPandit’s predicted support levels of 27735 and 18580 respectively. Finally, Indian Stock Market closed flat with negative bias, for the day.
Today: Indian Stock Market would open flat. Indian Stock Market is still in positive zone but Yuan fears may force Indian Stock Market to see some profit booking. Indian Markets are holding key support levels just in expectation of key rate cut. Market will fall down sharply if no rate cut is seen in upcoming days. Traders should note that Medium-term trend of BankNifty is negative and this can be an alarming situation but for now it is in positive region and traders should not short at this point of time. FIIs were net sellers of Rs.255.42 crores whereas DIIs were net buyers of Rs.127.5 crores in last trading session. Nifty would see strong support at 8430-8380-8335 whereas strong resistance would be seen at 8530-8561-8616-8655 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Read Nifty and Major Stocks Outlook for This Week
NSE Nifty: (8467) The support for the Nifty is 8430-8380-8335-8286 and the resistance to the up move is at 8531-8561-8616-8655 levels.
NSE BankNifty: (18781) The support for BankNifty is at 18580-18449-18300 and the resistance to the up move is at 18940-19067-19230 levels.
BSE Sensex: (27831) The support for the Sensex is at 27735-27640-27475 and the resistance to the up move is at 28100-28162-28265-28550 levels.
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