Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that BankNifty entered into the positive zone while Nifty is still in the negative zone. EquityPandit predicted that BankNifty has seen a breakout and we would see further positive rally and exactly the same happened. Indian Stock Market moved positively. BankNifty saw a sharp positive rally with 800 points positive and traders, who followed EquityPandit’s advice, might have earned huge profits for the day.
Market Today: Indian Stock Market would open negative. Technically, Nifty is still in the negative zone but BankNifty is in the positive zone. The Nifty would enter into the positive zone once it closes above 11814 and just missed it in the last trading session. Market strong as long as Nifty trades above 11814 but trading below these levels would infuse some profit booking in the market. Today, the market would be highly volatile as would the direction would be dependent on US Election results and traders should remain cautious. Market may see some profit booking but overall direction would be dependent on who wins and who is better for India and Indians in America. Overall, risk averse traders should wait for the market to show clear direction while others can trade with strict stop losses.
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FIIs were net buyers of Rs.2274.40 crores whereas DIIs were net sellers of Rs.1634.89 crores in the cash market for the last trading session. Nifty would see strong support at 11765-11710-11660-11570-11530 whereas strong resistance would be seen at 11880-11940-11980-12025 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
NSE Nifty: (11814) The support for the Nifty is 11765-11710-11660-11570-11530 and the resistance to the up move is at 11880-11940-11980-12025.
NSE BankNifty: (25683) The support for BankNifty is 25470-25350-25318-25200-25000 and the resistance to the up move is 25860-25940-26075-26206.
BSE Sensex: (40261) The support for the Sensex today is 39950-39811-39700-39630-39450 and the resistance to the up move is at 40470-40585-40730 levels.
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