Nifty Highly Volatile On F&O Expiry, Book Partial Profits If 10470 Breaches
Last Trading Session: Indian Stock Market opened flat exactly as per EquityPandit’s prediction. Indian Stock Market moved sharply positive and saw record highs as predicted by EquityPandit. Finally, market corrected sharply and closed negative for the day below important psychological levels of 10500 for Nifty.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in positive zone. Today, we are headed towards F&O Expiry and huge volatility would be seen in the market. Traders can continue to hold long positions until Nifty holds above 10397 for Nifty and 25318 for BankNifty. Yesterday’s movement has shown some bearish signal. Trading below 10470 can induce some further profit booking and traders can book partial profits in that case but short positions should not be intiated until Nifty closes below 10397 levels. Bulls would again take control over the market once Nifty trades above 10500 levels. Overall, traders should remain cautious and hold long positions until Nifty trades above 10470.
FIIs were net buyers of Rs.172.32 crores whereas DIIs were net sellers of Rs.206.68 crores in cash market for last trading session. Nifty would see strong support at 10470-10440-10400-10360 whereas strong resistance would be seen at 10565-10610-10652 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
Stocks In F&O Ban Period: BALRAMCHIN, DHFL, DLF, GMRINFRA, HDIL, IFCI, JETAIRWAYS, JISLJALEQS, JPASSOCIAT, RCOM, RELCAPITAL, TV18BRDCST and WOCKPHARMA.
NSE Nifty: (10491) The support for the Nifty is 10470-10440-10400-10360 and the resistance to the up move is at 10565-10610-10652 levels.
NSE BankNifty: (25496) The support for BankNifty is at 25400-25318-25245 and the resistance to the up move is at 25735-25862-25925-26000 levels.
BSE Sensex: (33912) The support for the Sensex is at 33840-33745-33665-33575 and the resistance to the up move is at 34078-34110-34240 levels.
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