Expect Huge Volatility Today on F&O Expiry, Buy At Dips Until Nifty Holds 8550 by Closing
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Market is still in Positive trend and traders should go long until Nifty holds 8478 levels. EquityPandit also predicted that Nifty would see strong resistance at 8665 levels and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 8665 like a dot. Sensex also saw highs right near EquityPandit’s predicted resistance levels of 28218. Finally, Market rebounded from those levels and closed below EquityPandit’s suggested closing resistance of 8636 levels.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Today is F&O Expiry and huge volatility would be seen. Market would see some sharp correction but it would be temporary and once Nifty closes above 8636, we can see a sharp positive rally in days to come. GST news would decide further market movement but traders should buy at dips near EquityPandit’s predicted support levels and book profits at EquityPandit’s predicted resistance levels.
FIIs were net buyers of Rs.404.69 crores whereas DIIs were net sellers of Rs.152.47 crores in cash market for last trading session. Nifty would see strong support at 8550-8530-8496-8470 whereas strong resistance would be seen at 8636-8665-8707-8741 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Important Q1 Results To Be Disclosed Today: Blue Dart, CEAT, Dish TV, Eicher Motors, Escorts, Glaxosmithkline Pharma, GSFC, Hexaware, HCC, Muthoot Finance, Novartis, PNB, Redington India, Sintex Industries, Supreme Industries, Syndicate Bank and Welspun corp.
NSE Nifty: (8616) The support for the Nifty is 8550-8530-8496-8470 and the resistance to the up move is at 8636-8665-8707-8741 levels.
NSE BankNifty: (19022) The support for BankNifty is at 18880-18610-18533-18400 and the resistance to the up move is at 19160-19300-19410 levels.
BSE Sensex: (28024) The support for the Sensex is at 27915-27736-27635-27540 and the resistance to the up move is at 28060-28150-28218-28294 levels.
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