Market to open flat, further movement would be dependent on FED Rate Hike Decision

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative with 50 points for Nifty and 110 points for Sensex. Nifty saw strong support near EquityPandit’s predicted support levels of 7545 levels. Sensex also saw strong support near EquityPandit’s predicted support levels of 24850. Finally, Indian Stock Market rebounded from there and closed flat with positive bias for the day.

Today: Indian Stock Market would open flat for the day. Nifty and BankNifty are still in negative zone. Some short covering would be seen but if Nifty is able to breach the levels of 7700 and BankNifty is able to breach 16540 levels then further positive movement would be seen in days to come. Now, few events like FED Rate Hike and National Herald Case of Congress would decide the further movement in the market. Overall, market is negative and if it is not able to close in positive zone, then we would see a sharp breakdown in days to come. FIIs were net sellers of Rs.157.07 crores whereas DIIs were net buyers of Rs.386.47 crores in last trading session. Nifty would see strong support at 7600-7545-7500-7447 whereas strong resistance would be seen at 7700-7725-7770-7825 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (7650) The support for the Nifty is 7600-7545-7500-7447 and the resistance to the up move is at 7700-7725-7770-7825 levels.

NSE BankNifty: (16351) The support for BankNifty is at 16218-16060-15933-15760 and the resistance to the up move is at 16380-16441-16540-16700 levels.

BSE Sensex: (25150) The support for the Sensex is at 24950-24850-24745-24626 and the resistance to the up move is at 25210-25260-25320-25540 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services