Market To Open Gap Negative But Next Move Would Depend On Brexit Final Results

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with just 2 points negative for Nifty. EquityPandit predicted that further movement would be dependent on Brexit Event. EquityPandit also predicted that Market is still in positive zone but would see immediate resistance at 8272 levels and exactly same happened. Indian Stock Market moved negative in initial trade but recovered sharply in second half of the trading session. BankNifty also saw strong support right near EquityPandit’s predicted support levels of 17611. Finally, Market closed gap positive with Nifty closing just below EquityPandit’s predicted resistance levels of 8272 like a dot.

Today: Indian Stock Market would open gap negative as the partial counting of the polls suggest that UK is willing to leave European Union. Today’s Market Movement would fully be dependent on the BRexit News. Till 9 AM in the morning, we would have a clear idea. The Final Results would be disclosed around 11:30 AM IST. For now Market would open gap negative and a sharp downfall is intact but if the results changes i.e. UK decides to stay in EU then a sharp breakout would be seen. Traders should wait and watch the Polls results and take the action accordingly. FIIs were net buyers of Rs.81.87 crores whereas DIIs were net buyers of Rs.203.56 crores in cash market for last trading session. Nifty would see strong support at 8098-8000-7980-7900 whereas strong resistance would be seen at 8272-8294-8332-8385-8500 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: (8270) The support for the Nifty is 8098-8000-7980-7900 and the resistance to the up move is at 8272-8294-8332-8385-8500 levels.

NSE BankNifty: (17892) The support for BankNifty is at 17600-17470-17330-17200 and the resistance to the up move is at 18000-18052-18139-18220-18380 levels.

BSE Sensex: (27002) The support for the Sensex is at 26720-26620-26540-26300 and the resistance to the up move is at 27195-27385-27450-27600 levels.

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