Some Consolidation Before Nifty Breaches 9000 Mark, Big Bull Run On The Cards

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that market is still in positive trend but it would see some consolidation or correction before it breaches levels of 9000 for Nifty and exactly same happened. Indian Stock Market moved positive but saw strong resistance right near EquityPandit’s predicted resistance levels of 8972 for Nifty and 29070 for Sensex like a dot. Finally, Market rebounded from there and fell down to close flat for the day.

Today: Indian Stock Market would open flat. Technically, analysis would still remain same and Indian Stock Market is still in positive zone. Market would consolidate at this point of time and would see further correction before breaching psychological levels of 9000 for Nifty. This positive rally would last very long and as data suggest we could see new lifetime highs in the market soon but before that happens, we would see some consolidation and some correction at these levels. Once Nifty breaches 9000 levels, we would soon see market breaching lifetime highs of 9119 levels for Nifty. BSE 500 has already created new lifetime highs. Traders can hold long positions as of now and can even add long positions at every correction.
FIIs were net buyers of Rs.854.06 crores whereas DIIs were net sellers of Rs.768.55 crores in cash market for last trading session. Nifty would see strong support at 8900-8848-8800-8765 whereas strong resistance would be seen at 8972-9008-9065-9120 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Q1 Results To Be Disclosed Today: Eros International Media, Gujarat Fluorochemicals, Jindal Steel & Power, SAIL and TV Today Network.

NSE Nifty: (8918) The support for the Nifty is 8900-8848-8800-8765 and the resistance to the up move is at 8972-9008-9065-9120 levels.

NSE BankNifty: (20407) The support for BankNifty is at 20340-20220-20060-19950 and the resistance to the up move is at 20542-20609-20720-20900levels.

BSE Sensex: (28926) The support for the Sensex is at 28825-28716-28650-28420 and the resistance to the up move is at 29070-29264-29408-29560 levels.

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