Market To Be Considered Bullish Only If Nifty Closes Above 10750, F&O Expiry Today
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Market would remain volatile and traders should go long only if Nifty closes above 10750 levels. EquityPandit also predicted that every positive movement would end up in selling and exactly same happened. Indian Stock Market moved sharply positive and saw highs near EquityPandit’s predicted resistance levels of 10705 but finally, market saw profit booking and managed to close flat for the day.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone. Market would see some positive rally but technically, analysis would remain same. Market would enter into positive zone only if it closes above 10750 for Nifty and 26885 for BankNifty. Today is F&O Expiry and we would see huge volatility before Budget day. Traders should follow EquityPandit’s levels and should trade with proper stoploss or hedging their positions. Traders can initiate fresh long positions if market closes above 10750 for Nifty and 26885 for BankNifty.
FIIs were net buyer of Rs.130.25 crores whereas DIIs were net buyers of Rs.502.26 crores in cash market for last trading session. Nifty would see strong support at 10630-10600-10550-10500 whereas strong resistance would be seen 10705-10740-10780-10820 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: ADANIENT, ADANIPOWER, BANKINDIA and DHFL.
Important Results To Be Disclosed Today: Aegis Logistics, Bharti Airtel, Chambal Fertilisers, Dabur India, Dena Bank, eClerx Services, Emami, Gujarat Alkalies & Chemicals, Hero MotoCorp, HSIL, IFB, Indiabulls Housing Finance, Jamna Auto Industries, Laurus Labs, Magma Fincorp, Narayana Hrudayalaya, NMDC, Petronet LNG, Power Grid Corporation, Solar Industries India, UPL, Vedanta and V-Guard Industries.
NSE Nifty: (10652) The support for the Nifty is 10625-10600-10550-10500 and the resistance to the up move is at 10705-10740-10780-10820 levels.
NSE BankNifty: (26826) The support for BankNifty is at 26720-26600-26500-26440-26365 and the resistance to the up move is at 26950-27005-27075-27205 levels.
BSE Sensex: (35591) The support for the Sensex is at 35500-35380-35270-35110 and the resistance to the up move is at 35775-35818-35880-35970 levels.
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