Gujarat And Himachal Pradesh Poll Results Today, Trade With Caution
Last Trading Session: Indian Stock Market opened gap positive for the day exactly as predicted by EquityPandit. EquityPandit predicted that market would see sharp positive rally and traders should continue to hold long positions in the market and exactly same happened. Indian Stock Market moved sharply positive backed by the exit polls results. Finally, Indian Stock Market managed to close gap positive for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is in positive zone. Now today is the D-Day. Exit polls have already predicted clear win for BJP in Gujarat and Himachal Pradesh. Today is the actual poll results of these two key states and traders should remain cautious until the final results are out. Clear Victory of BJP would take market to new highs in days to come but any deviation could force a sharp breakdown in the market. Market direction would be purely event based, today. Huge volatility would be seen and some big swings would be there in the market and hence traders should remain cautious today. Technically, reversal levels are 10241 for Nifty and 25191 for BankNifty, so closing below these levels would induce further selling in days to come.
FIIs were net sellers of Rs.921.03 crores whereas DIIs were net sellers of Rs.635.44 crores in cash market for last trading session. Nifty would see strong support at 10310-10270-10232-10200 whereas strong resistance would be seen at 10386-10400-10440-10500 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: FORTIS, HDIL, JISLJALEQS, JPASSOCIAT, JSWENERGY, TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10333) The support for the Nifty is 10310-10270-10232-10200 and the resistance to the up move is at 10386-10400-10440-10500 levels.
NSE BankNifty: (25447) The support for BankNifty is at 25400-25327-25250-25165 and the resistance to the up move is at 25500-25560-25695-25800-26000 levels.
BSE Sensex: (33463) The support for the Sensex is at 33435-33340-33290-33200 and the resistance to the up move is at 33560-33652-33735-33865 levels.
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