Advice for – Thursday, August 07, 2014

Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened negative with 20 points for Nifty. Nifty saw highs exactly near EquityPandit’s predicted resistance levels of 7750. Global worries took Nifty further negative as per EquityPandit’s predictions. Market were not able to sustain and Europe negative opening forced Indian Stock Market to see a sharp downfall. Nifty saw strong support at EquityPandit’s predicted support levels of 7638 for Nifty. Finally Nifty closed negative at 7672 levels for the day.

Today: Indian Stock Market to open 10-30 points negative on Russia tensions. Internal Structure of Indian Stock Markets is strong but the global worries may take it further negative. Interestingly, FIIs were still net buyers of Rs.283.87 crores in Indian Stock Market on Wednesday, that shows that FIIs are buying at every dip in Indian Stock Market. Indian Stock Market would see Strong support at 7638-7588-7529 levels for Nifty whereas resistance would be seen at 7753-7800-7840 levels. Traders can go short if Nifty breaches levels of 7638 levels with volumes. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Q1 Results to be Declared today: Aurobindo Pharma, Balrampur Chini, Bombay Dyeing, Chennai Petro, Fortis Healthcare, Gujarat State Petronet, India Cements, JUBL FOOD, Mangalore Chem, Nestle India, Oracle Fin, TALWALKAR, Titagarh Wag, Uflex, Vardhman Tex.

NSE Nifty: (7672) The support for the Nifty is at  7638-7588-7529 and the resistance to the up move is at 7753-7800-7840 levels.

NSE BankNifty: (15009) The support for the BankNifty is at  15000-14848-14658 and the resistance to the up move is at 15156-15375 levels.

BSE Sensex: (25665) The support for the Sensex is at 25601-25438-25236 and the resistance to the up move is at 25765-25997 levels.

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