RBI Policy To Be Non-Event, Some Correction Would be seen, Buy At Dips.

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that Market would open higher and some correction would be seen. EquityPandit also predicted that traders can book profits at higher levels and then would get a good chance to enter again at lower levels to gain high profits and exactly same happened. Market opened positive and then saw some correction. BankNifty saw strong resistance right near EquityPandit’s predicted resistance levels of 17760 like a dot and fell down sharply from there to see lows right near EquityPandit’s predicted support levels of 17620. Sensex also saw strong support right at EquityPandit’s predicted support levels of 26720 like a dot. Traders, who followed EquityPandit’s advice might have earned good profits for the day. Finally, Market closed flat with negative bias for the day. Nifty closed right above EquityPandit’s predicted support levels of 8200 like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Now today, RBI Policy would be disclosed. EquityPandit expects no change in rates and hence Policy would remain non-event for the market. Some correction would be seen but it would be temporary, so traders can go long after a correction in the market. Market would recover post a sufficient correction. Traders can go long near every support level defined by EquityPandit. FIIs were net buyers of Rs.28.30 crores whereas DIIs were net sellers of Rs.230.63 crores in cash market for last trading session. Nifty would see strong support at 8200-8165-8098-8000 whereas strong resistance would be seen at 8272-8294-8332-8385 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

NSE Nifty: (8201) The support for the Nifty is 8200-8165-8098-8000 and the resistance to the up move is at 8272-8294-8332-8385 levels.

NSE BankNifty: (17671) The support for BankNifty is at 17620-17470-17330 and the resistance to the up move is at 17760-17827-17952-18029 levels.

BSE Sensex: (26777) The support for the Sensex is at 26720-26540-26300 and the resistance to the up move is at 26940-27030-27195 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services