Selling Would Be Seen On Every Positive Movement Until Nifty Holds Below 10982 On Closing Basis
Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see some consolidation with some profit booking before breaching 11000 levels for Nifty and exactly same happened. Indian Stock Market saw profit booking and finally, managed to close negative for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market including Nifty and Sensex have entered into negative zone. BankNifty was already in negative zone. Now Market is sell on every positive rally until it closes above 27585 for BankNifty and 10982 for Nifty. Traders can close all long positions until Nifty and BankNifty manages to close above these levels. Trade is to go short at every positive movement until market closes above EquityPandit’s predicted reversal levels. Market would see some positive movement but selling would be seen at higher levels. Overall, market would consolidate for now with negative bias.
FIIs were net sellers of Rs.775.82 crores whereas DIIs were net buyers of Rs.583.77 crores in cash market for last trading session. Nifty would see strong support at 10800-10749-10700-10675 whereas strong resistance would be seen 10880-10900-10922-10945 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: JETAIRWAYS, JISLJALEQS and RELCAPITAL.
Important Results To Be Disclosed Today: Biocon, Colgate Palmolive, Edelweiss Financial Services, Hatsun Agro Product, Jindal Saw, Jyothy Laboratories, KRBL, Mphasis, Pfizer, PNB Housing Finance, PVR, Quess Corp, Reliance Power, Sterlite Technologies, Suntek Realty, Supreme Industries, UltraTech Cement and Yes Bank.
NSE Nifty: (10832) The support for the Nifty is 10800-10749-10700-10675 and the resistance to the up move is at 10880-10900-10922-10945 levels.
NSE BankNifty: (27251) The support for BankNifty is at 27172-27026-26988-26865 and the resistance to the up move is at 27380-27456-27500-27600 levels.
BSE Sensex: (36108) The support for the Sensex is at 36065-35950-35880-35774 and the resistance to the up move is at 36270-36380-36465-36540 levels.
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