US FED Increased Rates By 25 bps, Market To See Roller-Coaster Rides

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that Market would be considered positive until it holds 8170 levels by closing and would see sideways movement until FED Policy is disclosed and same happened. Market moved positive and saw highs right at EquityPandit’s predicted resistance levels of 18490 for BankNifty and 26733 for Sensex like a dot. Market started declining from its resistance levels and remained choppy for the whole day. Finally, Indian Stock Market closed negative for the day. Sensex closed right above EquityPandit’s predicted support levels of 26600 like a dot.

Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in positive zone. Market needs to close below 8170 for Nifty and 18255 levels for BankNifty to enter into negative zone. US FED increased Interest Rates by 25 bps, which was very much expected by the markets. Market would see roller-coaster rides today. There is possibility of recovery after a negative opening but direction would remain uncertain until closing. Traders can initiate short positions only if Nifty closes below 8170 and BankNifty closes below 18255 levels. Budget hopes are still there and a pre-budget rally can be seen in days to come. For now, Market would see positive rally if Nifty breaches 8265 levels and would see sharp downfall if it closes below 8170 levels.

FIIs were net sellers of Rs.632.29 crores whereas DIIs were net buyers of Rs.210.86 crores in cash market for last trading session. Nifty would see strong support at 8145-8100-8077-8000 whereas strong resistance would be seen at 8200-8230-8265-8280-8310 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Results To Be Disclosed Today: Jammu & Kashmir Bank Ltd.

NSE Nifty: (8182) The support for the Nifty is 8145-8100-8077-8000 and the resistance to the up move is at 8200-8230-8265-8280-8310 levels.

NSE BankNifty: (18342) The support for BankNifty is at 18240-18188-18060-18000-17940 and the resistance to the up move is at 18490-18588-18690-18780 levels.

BSE Sensex: (26603) The support for the Sensex is at 26500-26450-26380-26164 and the resistance to the up move is at 26733-26809-26950-27060 levels.

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