Indian Stock Market Positive, Buy At Every Dip, Volatility May Still Persist
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. Indian Stock Market moved sharply negative breaching all support levels but recovered sharply from day lows. Donald Trump surprised market by getting clear majority in US Presidential Elections. BankNifty saw highs right near EquityPandit’s predicted resistance levels of 19580. Finally, Indian Stock Market closed negative for the day but BankNifty managed to close positive for the day.
Today: Indian Stock Market would open Gap Positive. Now Indian Stock Market is still in positive zone. Banking sector would be the major beneficiary on the ban of currency notes as Banking sector would see huge deposits in upcoming times as compared to the past. The end of the parallel cash economy would also benefit the banks in mid to long term. Real Estate sector would remain under huge pressure. Still we would see huge swing in the market and volatility is not ruled out in next couple of days but traders can go long at every downfall in the market for now. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.
FIIs were net sellers of Rs.2095 crores whereas DIIs were net buyers of Rs.1116.31 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280-8250 whereas strong resistance would be seen at 8480-8536-8580-8620-8636 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 Results To Be Disclosed Today: Aditya Birla Nuvo, Bajaj Electricals, Bank Of India, BF Utilities, Blue Star, Dhanuka Agritech, Eors International, Finolex Cables, Fortis Healthcare, Jain Irrigation, Manappuram Finance, Motherson Sumi Systems, Page Industries, Reliance Defence & Engineering, Sun Pharma, Thermax and Wockhardt Ltd.
NSE Nifty: (8432) The support for the Nifty is 8400-8360-8315-8280-8250 and the resistance to the up move is at 8480-8536-8580-8620-8636 levels.
NSE BankNifty: (19518) The support for BankNifty is at 19440-19320-19180-19060-18950 and the resistance to the up move is at 19580-19665-19724-19800-20000 levels.
BSE Sensex: (27253) The support for the Sensex is at 27160-27034-26950-26797 and the resistance to the up move is at 27460-27550-27640-27720-27800 levels.
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