Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market would consolidate post gap negative opening. EquityPandit also predicted that market has entered into very short-term positive trends and traders should go long at every dip in the market and exactly same happened. Traders, who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day. Nifty saw strong support at EquityPandit’s predicted support at 7665 levels for Nifty. Bank Nifty saw lows right at EquityPandit’s predicted support levels of 16200 like a dot. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat. Market would still consolidate in a rangebound region for now. Technically, Analysis would still remain same. Indian Stock Market has entered into very short term positive trend and now we could see further short covering. For now, traders should buy on dips with strict stoploss of 16200 levels for BankNifty and 7553 levels for Nifty and should reverse their positions once these levels are breached on closing basis. This current uptrend is not convincing and may end up with a big downfall in upcoming days. FIIs were the sellers for whole of the September 2015, which is a warning of further downfall in upcoming weeks. FIIs were net sellers of Rs.121.19 crores whereas DIIs were net buyers of Rs.66.6 crores in last trading session. Nifty would see strong support at 7750-7665-7553-7500 whereas strong resistance would be seen at 7847-7880-7910-7962 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Read Nifty and Major Stocks Outlook for This Week
NSE Nifty: (7788) The support for the Nifty is 7750-7665-7553-7500 and the resistance to the up move is at 7847-7880-7910-7962 levels.
NSE BankNifty: (16598) The support for BankNifty is at 16300-16200-15950-15800 and the resistance to the up move is at 16780-16911-17060 levels.
BSE Sensex: (25622) The support for the Sensex is at 25500-25395-25232-25020 and the resistance to the up move is at 25880-26011-26150 levels.
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