Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that market would see cyclical movement till RBI Credit Policy, maintaining the same range. EquityPandit also predicted that the only strategy is to buy on dips and sell on positive movement and exactly same happened. Indian Stock Market opened flat with negative bias and the trade here was to buy on dips. Traders who followed EquityPandit’s advice might have earned huge profits for the the day. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open gap negative. There was a huge volatility in global market in last two trading sessions. Indian Stock Market may see volatility today but would wait for RBI Credit Policy on Tuesday, September 29, 2015. EquityPandit expects 25bps rate cut by RBI on tuesday and it is already discounted in the market. If it happens, we may see a very small positive movement and then again market would consolidated. Yes, if fortunately RBI cuts 50 bps then we would see sharp jump in the market and Nifty may cross levels of 8000 in that case. No Rate Cut would definitely force Nifty to see sharp breakdown. Nifty is currently in negative zone but Bank Nifty is still strong for now and yet in positive zone. Low risk trade is to go long in BankNifty and hedge it with shorts in Nifty and BankNifty 18000 call options. Bank Nifty would enter into negative zone once it breaches levels of 16975 by closing and if it happened, we would see new 52 week lows in Nifty. FIIs were net sellers of Rs.115.10 crores whereas DIIs were net buyers of Rs.50.67 crores in last trading session. Nifty would see strong support at 7800-7785-7736-7678 whereas strong resistance would be seen at 7930-8000-8021-8055 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: (7869) The support for the Nifty is 7800-7785-7736-7678 and the resistance to the up move is at 7930-8000-8021-8055 levels.
NSE BankNifty: (17197) The support for BankNifty is at 17060-16875-16780-16680 and the resistance to the up move is at 17354-17570-17660 levels.
BSE Sensex: (25864) The support for the Sensex is at 25670-25530-25395-25287 and the resistance to the up move is at 25950-26040-26340 levels.
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