Market To See Some Correction Until Nifty Holds Below 8678 On Closing Basis

Last Trading Session: Indian Stock Market opened positive exactly as predicted by Equitypandit. EquityPandit predicted that market would see some positive movement where it would see immediate resistance at 8600 for Nifty on closing basis and exactly same happened. Indian Stock Market moved sharply positive but was not able to sustain at higher levels. Finally, Indian Stock Market closed positive as predicted. Nifty closed right at EquityPandit’s predicted resistance levels of 8600 like a dot.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is in positive zone for now and would enter into negative zone once it closes below 8117 for Nifty and 18407 for BankNifty. Indian Stock Market would see some correction today but overall, it would continue to remain rangebound and would see cyclic movement with one day positive and other day negative. Overall, investors would watch these 21 days of lockdown, its effect and the measures taken to restore liquidity and controlling the corona virus spread. This is good time for trading as market has good volatility that support trading.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.3044.94 crores whereas DIIs were net buyers of Rs.3576.23 crores in cash market for last trading session. Nifty would see strong support at 8500-8400-8307-8180 whereas strong resistance would be seen at 8711-8800-8950-9050 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8598) The support for the Nifty is 8500-8400-8307-8180 and the resistance to the up move is at 8711-8800-8950-9050 levels.

NSE BankNifty: (19144) The support for BankNifty is 18880-18700-18425-18254 and the resistance to the up move is 19256-19380-19508-19770 levels.

BSE Sensex: (29468) The support for the Sensex is 29288-28945-28685-28440 and the resistance to the up move is at 29700-30075-30280-30445 levels.

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