Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with around 39 points for Nifty and 105 points for Sensex. Indian Stock Market moved sharply positive but was not able to sustain higher levels. Bank Nifty also saw strong resistance around 18000 levels but was not able to sustain above 18000 levels for Bank Nifty and hence market saw strong profit booking at higher levels. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat. Technically, Market is not sustaining at higher levels. Nifty may see stiff resistance at EquityPandit’s predicted resistance levels of 8347 levels and there are strong chances that some sharp profit booking can be seen in the market. Bank Nifty if closes below 17690 levels, then we could see sharp downfall in the market and traders should go short in that case. For now, Market is consolidating in a rangebound region. FIIs were net buyers of Rs.724.51 crores whereas DIIs were net sellers of Rs.155.89530.78 crores in last trading session. Nifty would see strong support at 8200-8180-8150-8100 whereas strong resistance would be seen at 8297-8347-8372-8400 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: Axis Bank, CEAT, Dish TV, Lupin, Maruti, TVS Motor and Vedanta.
NSE Nifty: (8261) The support for the Nifty is 8200-8180-8150-8100 and the resistance to the up move is at 8297-8347-8372-8400 levels.
NSE BankNifty: (17815) The support for BankNifty is at 17770-17665-17660-17500 and the resistance to the up move is at 18000-18120-18220-18380 levels.
BSE Sensex: (27362) The support for the Sensex is at 27200-27000-26850 and the resistance to the up move is at 27565-27607-27700 levels.
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