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Last Trading Session: Exactly as predicted by EquityPandit that market would open negative and 5250 would act as strong support for Nifty and exactly same happened. Market opened negative as per EquityPandit’s predictions and saw strong support near Equitypandit’s predicted support levels of 5250 for Nifty and closed just below 5300 levels which is negative for market.
Today: Indian Stock Market to open gap negative due to Rupee collapse. Technically, now market is suppose to see further sharp downfall. Nifty would see some support at 5250-5200-5100 levels breaching which Nifty would see strong downfall. Now market to see strong resistance at 5300-5400 levels for Nifty. Some short covering can’t be ruled out but growing Gold and Dollar prices are a big worry for Indian Stock market, which if not taken care immediately, then Nifty can see levels of 5000-4800 anytime nearby. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (17968) The support for the Sensex is at 17600-17400-17000 and the resistance to the up move is at 18000-18200-18460 levels.
NSE Nifty: (5287) The support for the Nifty is at 5250-5200-5100 and the resistance to the up move is at 5300-5400 levels.
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