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DAILY PREDICTION

Advice for – Wednesday, July 09, 2014

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Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened with positive bias. Nifty moved up sharply but saw strong resistance just at EquityPandit’s predicted resistance levels of 7800 levels. Market saw a breakdown after the Railway Budget as predicted by EquityPandit. Nifty fell down 2.11%, biggest in last 10 months. Finally, Nifty closed gap down for the day. Sensex also saw lows exactly at EquityPandit’s predicted support levels of 25500 levels like a dot.

Today: Indian Stock Market to open flat. Today, some more correction if possible but it would be temporary. The good news is that FIIs were net buyers of Rs.422.72 crores yesterday, even when market saw a sharp down fall, which gives us impression that FIIs are buying into dips. Sharp short covering can be seen at any point of time. Important dates for markets:

10th July:Union Budget, Balance of Trade. 11th July: IIP, MFG production, Infosys Q1 earnings. 14th July: Inflation data.

Nifty would see strong resistance at 7805-7875-8000 levels whereas strong support would be seen at 7580-7500-7440. Traders should buy near EquityPandit’s predicted support levels and should sell near EquityPandit’s predicted resistance levels in this market for Intraday profits. Selling rallies can trigger anytime and hence traders should trade with small quantity. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (7623) The support for the Nifty is at 7580-7500-7440 and the resistance to the up move is at 7805-7875-8000 levels.

BSE Sensex: (25582) The support for the Sensex is at 25500-25320-25000 and the resistance to the up move is at 26000-26190-26370 levels.

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