Market Volatilie On FED And Gujarat Exit Polls outcome, Trade With Caution
Last Trading Session: Indian Stock Market opened flat for the day as predicted by EquityPandit. EquityPandit predicted that market would consolidate as Gujarat Poll results and FED Policy Outcome looms. EquityPandit also predicted that market would enter into negative zone once it closes below 10204 for Nifty and 25098 for BankNifty. Indian Stock Market open flat and moved sharply positive to see highs near EquityPandit’s predicted resistance levels of 10300 for Nifty and 33400 for Sensex like a dot. Finally, Market corrected sharply to see lows right near EquityPandit’s predicted support levels of 10175 for Nifty. BankNifty also saw resistance right near EquityPandit’s predicted resistance levels of 25280. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market has entered into negative zone. US FED raised rates by 25 bps. Now, market would see some huge swings with high volatility backed by FED Policy outcome and Gujarat Exit Poll results. Market would see some sharp short covering rally but would see selling pressure at higher levels. Traders should trade with caution at this point of time. Though Indian Market has entered into negative zone but some sharp swing in either direction is not ruled out. Overall, market is in negative trend and would enter into positive zone only if it closes above 10338 for Nifty and 25385 for BankNifty.
FIIs were net sellers of Rs.578.65 crores whereas DIIs were net sellers of Rs.116.48 crores in cash market for last trading session. Nifty would see strong support at 10180-10143-10100-10080 whereas strong resistance would be seen at 10252-10283-10338-10369 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, IRB, JETAIRWAYS, JISLJALEQS, JPASSOCIAT and JSWENERGY.
NSE Nifty: (10193) The support for the Nifty is 10180-10143-10100-10080 and the resistance to the up move is at 10252-10283-10338-10369 levels.
NSE BankNifty: (25000) The support for BankNifty is at 24865-24800-24778-24570 and the resistance to the up move is at 25078-25200-25280-25380 levels.
BSE Sensex: (33053) The support for the Sensex is at 32940-32800-32670-32600 and the resistance to the up move is at 33118-33180-33240-33400 levels.
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