Nifty To See Record Highs If Trades Above 10047 For Today, RIL Results Today
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. Indian Stock Market opened positive and moved towards 10036 levels where it saw profit booking towards 10000 levels but recovered smartly above Equitypandit’s predicted stoploss levels of 10074 levels. EquityPandit predicted that once Nifty breaches 10074 levels, it would resume its bullish movement, neglecting the bearish candle that was formed in last trading session and exactly same happened. Breaching 10074 levels forced Nifty to see intraday highs of 10104 levels. Finally, Indian Stock Market closed gap positive for the day. Nifty closed right below EquityPandit’s predicted resistance levels of 10098 like a dot.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in positive zone until Nifty holds 9954 levels on closing basis. Indian Stock Market has seen a sharp positive movement in last trading session negating the bearish movement a day before. Bulls have taken control over the market. Now traders can hold long positions until Nifty holds 10000 market on spot basis. If Nifty managed to close above 10047 this Friday (Today), then it would enter into weekly positive trend and would force market to see non-stop movement towards new lifetime highs and probably towards the bigger target of 10300-10500 in next few weeks. Traders should hold long positions in the market if Nifty closes above 10047 levels on spot basis. Reliance Industries would disclose its quarterly results today and would affect Indian Stock Market direction for the day.
FIIs were net sellers of Rs.668.13 crores whereas DIIs were net buyers of Rs.872.54 crores in cash market for last trading session. Nifty would see strong support at 10047-10020-9987-9965 whereas strong resistance would be seen at 10115-10138-10150-10200 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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Stocks In F&O Ban Period: BEML, DHFL, IBREALEST, JSWENERGY, RCOM and RELCAPITAL.
Corporate Earnings To Be Disclosed Today: Karnataka Bank, Kirloskar Oil Engines, MCX, Reliance Industries and Reliance Naval & Engineering Ltd.
NSE Nifty: (10096) The support for the Nifty is 10047-10020-9987-9965 and the resistance to the up move is at 10115-10138-10150-10200 levels.
NSE BankNifty: (24361) The support for BankNifty is at 24260-24170-24066-23935 and the resistance to the up move is at 24420-24460-24535-24625-24670 levels.
BSE Sensex: (32182) The support for the Sensex is at 32082-32038-31950-31865 and the resistance to the up move is at 32240-32322-32380-32450 levels.
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