Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted Indian Stock Market is in positive trend and traders should go long at every dip in the market. Indian Stock Market saw some small correction after opening but then continued its journey towards north. Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 9600 levels for Nifty, 31060 levels for Sensex and 23400 levels for BankNifty like a dot. Traders, who followed EquityPandit’s advice to go long at dips might have earned huge profits for the day. Finally, Indian Stock Market closed positive but right below EquityPandit’s predicted resistance levels for Nifty, BankNifty and Sensex.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Market has seen a strong bull move and would continue to move higher in days to come. Market has already achieved EquityPandit’s targets of 9600 levels for Nifty and 23400 levels for BankNifty. Market can now enter into consolidation phase but overall direction would be positive and Nifty moving above 9605 would take it to next target of 9635-9660 levels where we may see some correction in the trend. Nifty possess immediate support at 9538-9490-9400 levels. Market is in bull move and we would keep on seeing small correction after every big move but the direction would remain positive for now. L&T, BHEL, BPCL, Aurobindo Pharma (NS:ARBN) and PFC to disclose their results today.
FIIs were net sellers of Rs.274.14 crores whereas DIIs were net buyers of Rs.1008.56 crores in cash market for last trading session. Nifty would see strong support at 9538-9470-9450-9420 whereas strong resistance would be seen at 9605-9635-9660-9705 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Corporate Results Today: Aban Offshore (NS:ABAN), Aurobindo Pharma, Bajaj Electricals (NS:BJEL), Bharat Electronics (NS:BAJE) Ltd, BHEL, BPCL, City Union Bank (NS:CTBK), Escorts (NS:ESCO) Ltd, GE Power, GSFC, Info Edge, Jagran Prakashan (NS:JAGP), JaiPrakash Associates, Jubilant Foodworks (NS:JUBI), KRBL, L&T, Manpasand Beverages, MMTC (NS:MMTC), NHPC (NS:NHPC), Oil India (NS:OILI), PFC, Power Grid and Sonata Software (NS:SOFT).
Nifty 50: (9595) The support for the Nifty is 9538-9470-9450-9420 and the resistance to the up move is at 9605-9635-9660-9705 levels.
Nifty Bank: (23362) The support for BankNifty is at 23300-23250-23211-23170-23060 and the resistance to the up move is at 23410-23540-23660-23745 levels.
BSE Sensex 30: (31028) The support for the Sensex is at 30940-30865-30715 and the resistance to the up move is at 31075-31168-31272-31380 levels.