Last Trading Session: Indian Stock Market opened flat. EquityPandit predicted that Indian Stock Market has entered into positive trend and we could see further short covering rally. EquityPandit suggested traders to go long at every dip in the market to earn good profits and exactly same happened. Indian Stock Market opened flat and moved sharply positive. Nifty saw highs right at EquityPandit’s predicted resistance levels of 7880 like a dot. BankNifty also closed right at EquityPandit’s predicted resistance levels of 16911 like a dot. Sensex also saw highs near EquityPandit’s predicted resistance levels of 25880 levels. Traders, who followed EquityPandit’s advice to go long might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open flat. Technically, Analysis would still remain same. Indian Stock Market is still into very short term positive trend and we may see further short covering in expectation of RBI rate cut. Now the breakout or breakdown from current region would be led by upcoming news of US FED decision, RBI Rate Cut, etc. For now, traders should continue their long positions. Market would still consolidate within rangebound region until Thursday when US Fed would shower some light on Interest rates. FIIs were first time buyers in the month of September 2015. FIIs were net buyers of Rs.58.75 crores whereas DIIs were net buyers of Rs.183.90 crores in last trading session. Nifty would see strong support at 7800-7750-7665 whereas strong resistance would be seen at 7910-7930-7962-8091 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: (7872) The support for the Nifty is 7800-7750-7665 and the resistance to the up move is at 7910-7930-7962-8091 levels.
NSE BankNifty: (16912) The support for BankNifty is at 16680-16500-16300-16200-15950 and the resistance to the up move is at 17060-17172-17269-17380 levels.
BSE Sensex: (25856) The support for the Sensex is at 25671-25500-25395 and the resistance to the up move is at 26011-26150-26302 levels.
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