BankNifty Enters Positive Trend, Nifty Positive Above 8530 On Closing Basis
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that market would see sharp short covering rally and traders can go short at higher levels and exactly same happened. Indian Stock Market moved sharply positive as per EquityPandit’s predictions. Nifty moved sharply negative from day highs and touched intraday lows at the end of the trading session. Traders, who followed EquityPandit’s advice to go short at higher levels might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day with BankNifty as the strongest sector.
Today: Indian Stock Market would open positive. Now, BankNifty has entered into positive zone and Nifty would also enter the positive zone once it breaches levels of 8530 on closing basis. Analysis would still remain same. Today is the D-Day and US Presidential Elections would be commenced today. Now major trigger for the market would be US Presidential Elections Outcome. Indian Stock Market would be highly volatile in next 2-3 days and market is expected to see a movement of 3-5% or even more in next 2-3 days mainly on Wednesday and Thursday. EquityPandit expects that the trends suggesting Hillary Clinton win would force market to see around 2-3% upmove on Next Wednesday and Thursday whereas Donald Trump win would force market to see a “V” Shape movement where we can expect a downfall of around 3-5% which would be followed by sharp recovery. Traders can go long in BankNifty with hedging it with Put Options. The best trade for traders is to buy both Call and Put options of BankNifty which would overall yield handsome profit after Elections. Nifty would also enter into positive zone once it closes above 8530 levels.
FIIs were net buyers of Rs.311.18 crores whereas DIIs were net buyers of Rs.779.86 crores in cash market for last trading session. Nifty would see strong support at 8480-8400-8360-8315 whereas strong resistance would be seen at 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: Ashok Leyland, Bharat Forge, BHEL, BBTC, Bombay Dyeing, Entertainment Network, Interglobe Aviation, KEC International, Mangalore Refinery and Petrochemicals, Mcleod Russel, PTC India Financial Services and Tata Communications.
NSE Nifty: (8497) The support for the Nifty is 8480-8400-8360-8315 and the resistance to the up move is at 8536-8580-8620-8636 levels.
NSE BankNifty: (19356) The support for BankNifty is at 19180-19060-18950-18825-18720 and the resistance to the up move is at 19435-19490-19580-19665-19724 levels.
BSE Sensex: (27459) The support for the Sensex is at 27400-27311-27190-27060 and the resistance to the up move is at 27640-27720-27800 levels.
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