Last Trading Session: Exactly as predicted, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market may see a reversal and Banking sector, especially, PSU banks are looking too strong that may takeBank Nifty into positive zone.
EquityPandit also predicted that BankNifty would enter into positive zone above 18590 and traders should go long in that case and exactly same happened. PSU Banks and ICICI Bank Limited (NSE:ICBK) moved sharply positive pushing S&P CNX Nifty and BankNifty into positive zone.
Traders who followed EquityPandit's advice 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. Now BankNifty has entered into positive trend and traders should go long in BankNifty at this point of time. RBI Policy would be disclosed tomorrow and if there is any rate cut, which is definitely a possibility, can push BankNifty sharply positive, may be upto 19200 or even higher.
Asian market has fallen today but we expect Indian Market to sustain the levels until RBI Policy is disclosed tomorrow. The trade at this point of time is to go long in BankNifty. FIIs were net sellers of Rs.277.77 crores whereas DIIs were net buyers of Rs.1021.34 crores in last trading session.
Nifty would see strong support at 8500-8450-8410 whereas strong resistance would be seen at 8561-8616-8650 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Declared Today: Aban Offshore Ltd. (NSE:ABAN), Atul Auto Ltd (NSE:ATUL), Berger Paints India Ltd (NSE:BRGR), BGR ENERGY SYSTEMS LIMITED (NSE:BGRE),Bharat Forge Ltd (NSE:BFRG), HCL Technologies Ltd (NSE:HCLT) Hero MotoCorp Limited (NSE:HROM) Indiabulls Real Estate Limited (NSE:INRL), Kalindee Rail Nirman Engineers (NSE:KALI), McLeod Russel India Limited (NSE:MCLE), Monsanto India Ltd. (NSE:MNSN), Nesco Ltd (NSE:NSEN), Nilkamal (NSE:NKML), Redington India Ltd (NSE:REDI), Tamil Nadu Newsprint And Papers Ltd (NSE:TNNP), United Bank of India (NSE:UBOI)andV-Guard Industries Ltd. (NSE:VGUA).
NSE Nifty: (8532) The support for the Nifty is 8500-8450-8410 and the resistance to the up move is at 8561-8616-8650 levels.
NSE BankNifty: (18730) The support for BankNifty is at 18620-18475-18360-18260 and the resistance to the up move is at 18856-18981-19200 levels.
BSE Sensex: (28115) The support for the Sensex is at 27980-27814-27700-27568 and the resistance to the up move is at 28235-28480-28578 levels.