Nifty To Hover In 9920-10036 Range, Yes Bank Results Today
Last Trading Session: Indian Stock Market opened positive as per EquityPandit’s predictions. EquityPandit Predicted that Indian Stock Market is in positive zone and traders should hold long positions. Nifty hit record 10000 Mark and saw some profit booking thereafter. Market saw lows right at EquityPandit’s predicted support levels of 9948 for Nifty and 32195 for Sensex like a dot and rebounded from there to close flat for the day.
Today: Indian Stock Market to open positive. Technically, Indian Stock Market is still in positive zone and traders can continue to buy at dips until Nifty holds 9906 on closing basis. Nifty would see immediate support at 9948-9920 while resistance would be seen at 10036 levels. Investors should buy fresh long positions only if Nifty closes above 10000 levels. If Nifty manages to close above 10000 levels then we would again see a next bull movement. Until then market would continue to hover around 9920-10000 range as Investors would remain cautious ahead of FED two days policy Meeting Outcome (July 25-26). Market would remain highly volatile ahead of F&O Expiry and Profit booking can’t be ruled out at this point of time, but overall, market is bullish and any downfall would be an opportunity for traders to go long in the market. Breaching 10040 would force Nifty to see 10100 levels. Yes Bank and Nestle to disclose its quarterly earnings and would affect Indian Stock Market for the day.
FIIs were net buyers of Rs.270.77 crores whereas DIIs were net sellers of Rs.209.50 crores in cash market for last trading session. Nifty would see strong support at 9948-9920-9900-9879 whereas strong resistance would be seen at 10011-10036-10100 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: Bharat Financial Inclusion, Federal Bank, HCL Infosystems, Inox Leisure, L&T Finance Holdings, Mphasis, Nestle India, Orient Cement, PVR, Radico Khaitan and Yes Bank.
NSE Nifty: (9965) The support for the Nifty is 9948-9920-9900-9879 and the resistance to the up move is at 10011-10036-10100 levels.
NSE BankNifty: (24521) The support for BankNifty is at 24450-24380-24340-24260 and the resistance to the up move is at 24640-24710-24880 levels.
BSE Sensex: (32228) The support for the Sensex is at 32195-32110-32060-31940 and the resistance to the up move is at 32320-32380-32450-32500 levels.
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