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Advice for – Tuesday, May 27, 2014

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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened gap positive. Indian Stock Market moved higher and touched levels of 7500 in expectation of declaration of good ministerial candidates during swearing-in of Modi’s government. Finally strong profit booking was seen in last 1 hour of trading session but Nifty saw strong support near EquityPandit’s predicted support levels of 7250. Finally, Market closed flat for the day.

Today: Indian Stock Market may open flat. Now since Modi government has came to the power, market would be totally dependent on the policies and reforms, which comes into effect. The Euphoria of Modi government in the market is over now. Current Account Deficit declared yesterday for Q4 was way lower to 0.2% of the GDP V/s 0.9% in last quarter, which is a good news for Indian Economy. Technically, Indian Stock Market would see some profit booking in coming days, get stablized there and would take a fresh upmove again, which would give another opportunity for investors to enter into the market and enjoy the rally. Investors and traders should wait for market to come down and then enter into it at different levels. Nifty would see strong resistance at 7420-7505-7570 levels whereas support would be seen at 7300-7250-7200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Financial Results to be declared today: Ansal Prop, Bharat Forge, Bhartiya Intl, Bombay Dyeing, Century Extr, Compuage Info, Dish TV India, Electrotherm, Everest Kanto, Hawkins Cook, Hindustan Wires, Hotel Leela, Inox Leisure, Jaiprakash Asso, JBF Inds, Jet Air India, JSW Steel, Jyoti, Network18 Media, OIL INDIA, Patels Airtmp, PFC, Prism Cement, Shipping Corp, STC, Thermax, Triveni Turbine, TV18 Broadcast, United Brew, Usha Martin, Zicom Elect.

NSE Nifty: (7359) The support for the Nifty is at 7300-7250-7200  and the resistance to the up move is at 7420-7505-7570 levels.

BSE Sensex: (24717) The support for the Sensex is at 24500-24300-24100 and the resistance to the up move is at 25000-25500 levels.

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