Closing Above 9930 Would Force Nifty To See 10000 Levels, HDFC Bank Results Today
Last Trading Session: Indian Stock Market opened flat with positive bias. EquityPandit predicted that Nifty is still in negative zone but BankNifty is in positive zone. EquityPandit also predicted that Traders can go long if Nifty closes above 9911 levels as it would enter into positive zone. Indian Stock Market moved sharply down. BankNifty saw support right near EquityPandit’s predicted support levels of 24060 and recovered smartly. Nifty also recovered sharply to close above EquityPandit’s predicted reversal levels. Finally, Indian Stock Market closed positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels of 9918.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market including Nifty and Sensex has entered into positive zone. Immediate resistance would be seen at 9930 levels for Nifty. Closing above 9930 would open door for 10000 levels for Nifty. Once Nifty closes above 9930, we would soon see breaching of 10000 levels for Nifty. Until then some profit booking can be seen. But Overall, market is positive for now and traders should go long at every dip in the market. HDFC Bank would disclose its results today and would affect Indian Stock Market direction for the day.
FIIs were net buyers of Rs.12.90 crores whereas DIIs were net buyers of Rs.147.66 crores in cash market for last trading session. Nifty would see strong support at 9900-9870-9848-9820 whereas strong resistance would be seen at 9930-9970-10000 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: Ambuja Cements, Bharti Infratel, Delta Corp, GIC Housing Finance, HDFC Bank, HUDCO, Indiabulls Housing Finance, Indiabulls Real Estate, Info Edge, IRB Infra, JM Financial, Just Dial, L&T Infotech, M&M Financial Services, Tata Communication, Texmaco and Zee Entertainment Enterprises.
NSE Nifty: (9915) The support for the Nifty is 9900-9870-9848-9820 and the resistance to the up move is at 9930-9970-10000 levels.
NSE BankNifty: (24257) The support for BankNifty is at 24170-24060-23940-23880 and the resistance to the up move is at 24270-24336-24380-24450 levels.
BSE Sensex: (32029) The support for the Sensex is at 31940-31850-31718 and the resistance to the up move is at 32090-32110-32180-32240 levels.
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