Consolidation To End Today, Breakout From Range On Tuesday

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market including Nifty and BankNifty opened negative for the day. EquityPandit predicted that Indian Stock Market would fall down in early trade and would see short covering rally in later hours of the day and exactly same happened. Indian Stock Market moved sharply negative in early trade and saw lows right near EquityPandit’s predicted support levels of 8897 for Nifty and 28820 for Sensex like a dot. Indian Stock Market recovered from day lows and moved higher during the day. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed flat with positive bias for the day.

Today: Indian Stock Market would open positive. Technically, Nifty is still in positive zone and BankNifty is still in negative zone. Market would remain positively biased for today. UP Election Exit Polls have predicted victory for BJP and Today’s Chanakya has predicted whopping 285 seats for BJP. Anyways, these are just exit polls and now all eyes are set on the Actual Poll Results that would be disclosed on Saturday, March 11, 2017. If BJP get clear majority in UP then market would move sharply positive and would see a sharp breakout from the consolidation. BJP defeat would result in a breakdown and in all other results, market would remain choppy and wait for US FED rate hike decisions. overall, today is the last day of consolidation, if any, and market would see a sharp breakout or breakdown from the range on Tuesday.

FIIs were net buyers of Rs.487.61 crores whereas DIIs were net buyers of Rs.10.98 crores in cash market for last trading session. Nifty would see strong support at 8897-8850-8815 whereas strong resistance would be seen at 8969-8982-9005-9120 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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NSE Nifty: (8927) The support for the Nifty is 8897-8850-8815 and the resistance to the up move is at 8969-8982-9005-9120 levels.

NSE BankNifty: (20721) The support for BankNifty is at 20550-20450-20380-20215 and the resistance to the up move is at 20800-20920-21045 levels.

BSE Sensex: (28929) The support for the Sensex is at 28820-28750-28675 and the resistance to the up move is at 29080-29154-29240-29325 levels.

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