Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive. EquityPandit predicted that market is still in positive zone and traders should hold long positions until Nifty holds 8100 levels for Nifty. Market moved sharply positive where BankNifty saw strong resistance right at EquityPandit’s predicted resistance levels of 17750 but was not able to hold higher levels and saw sharp profit booking. Nifty fell down to see lows right near EquityPandit’s predicted support levels of 8132 for Nifty. Sensex also saw lows right at EquityPandit’s predicted support levels of 26850 like a dot.
Today: Indian Stock Market would open flat. Technically, Market is in positive zone as of now but loosing its momentum. TCS would disclose its results today and would decide the further market direction. 8100 is important level for Nifty to watch out for, closing below 8100, would confirm weakness in Nifty and traders can exit long positions by then. For now the trade is to hold long position. Bank Nifty would enter into negative zone once it closes below 17210 levels, below which one should go short in BankNifty but for now, it is in positive zone and traders should go long at every dip in the market for the targets of 17850 and and 18220. FIIs were net buyers of Rs.317.56 crores whereas DIIs were net sellers of Rs.175.07 crores in last trading session. Nifty would see strong support at 8100-8035-8005 whereas strong resistance would be seen at 8180-8230-8297-8347 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
Important Results to be disclosed today: DCBBANK and TCS
NSE Nifty: (8144) The support for the Nifty is 8100-8035-8005 and the resistance to the up move is at 8180-8230-8297-8347 levels.
NSE BankNifty: (17583) The support for BankNifty is at 17497-17365-17200-16950 and the resistance to the up move is at 17750-17850-18120-18220 levels.
BSE Sensex: (26904) The support for the Sensex is at 26850-26660-26580 and the resistance to the up move is at 27165-27445-27565 levels.
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