Continue Long Until Nifty Holds Above 11055, Huge Volatility Expected On F&O Expiry
Last Trading Session: Indian Stock Market opened flat with positive bias exactly as predicted. EquityPandit predicted that Nifty is still positive but consolidation would be seen until BankNifty closes above 27037 and exactly same happened. Market consolidated for the whole day as predicted by EquityPandit. Market saw highs right at EquityPandit’s predicted resistance levels of 36946 for Sensex and 27075 for BankNifty like a dot. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open positive. Technically, Nifty is still in positive zone but BankNifty is in negative zone. Today is F&O Expiry and market would see high volatility. Traders can hold long positions as long as Nifty holds above 11055 levels on closing basis. BankNifty still need to close above 27037 to confirm the positive trend. Traders can initiate short only if Nifty closes below 11055 levels but until then every dip in the market would be an opportunity to go long. Few Industry Heavy weights like Bharti Airtel, Biocon, Colgate-Palmolive, Dr. Reddy, ITC, Maruti Suzuki, Tata Power and Yes Bank would disclose its quarterly results today and would affect Indian Stock Market direction and hence traders should remain cautious.
FIIs were net sellers of Rs.1195.75 crores whereas DIIs were net buyers of Rs.97.64 crores in cash market for last trading session. Nifty would see strong support at 11090-11024-11000-10980 whereas strong resistance would be seen 11175-11200-11215 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
Important Q1 results to be disclose today: Bharat Financial Inclusion, Bharti Airtel, Biocon, CESC Ltd, Cholmandalam Investment, Colgate-Palmolive, Container Corp of India, Dr. Reddy, Essel Propack, Eveready Industries, Force Motors, Heidelberg Cement, IFB Industries, ITC, J&K Bank, Jindal Stainless, Lakshmi Vilas Bank, Maruti Suzuki India, Petronet LNG, Quess Corp, SBI Life Insurance, Schaeffler India, Shriram Transport Finance, Star Cement, Tata Coffee, Tata Metaliks, Tata Power, WABCO India and Yes Bank.
Stocks In F&O Ban Period: ADANIENT.
NSE Nifty: (11132) The support for the Nifty is 11090-11024-11000-10980 and the resistance to the up move is at 11175-11200-11215 levels.
NSE BankNifty: (27031) The support for BankNifty is at 26865-26800-26685 and the resistance to the up move is at 27075-27165-27240-27380-27470 levels.
BSE Sensex: (36858) The support for the Sensex is at 36708-36600-36518-36422-36320 and the resistance to the up move is at 36880-36946-37025-37075 levels.
Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at firstname.lastname@example.org or call our Executive at 08000816688.
Premium Subscription Pricing details can be seen at Stock Market Premium Services