Profit Booking To Be Seen But Market Bearish Only If Nifty Closes Below 10764
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market is in positive zone and traders can continue to hold long positions for now. Nifty saw highs right at EquityPandit’s predicted resistance levels of 10980 like a dot. Finally profit booking was seen and market managed to give up much of its gains. Still Nifty and Sensex ended in positive whereas BankNifty ended negative for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is in positive zone but profit booking can’t be ruled out at this point of time. Market would enter into negative zone once it closes below 10764 for Nifty and 26853 for BankNifty. Trades below last trading session’s lows would force market to see sharp downfall. Nifty and BankNifty are forming bearish kind of pattern. Though the pattern is not confirmed as of now but traders should remain cautious and take care of EquityPandit’s predicted support and resistance levels. Overall, market would be considered positive until it holds above 10764 for Nifty and 26853 for BankNifty on closing basis. Breaching 11000 would force Nifty to see sharp positive rallies in days to come.
FIIs were net buyer of Rs.1315.89 crores whereas DIIs were net sellers of Rs.5.07 crores in cash market for last trading session. Nifty would see strong support at 10812-10749-10700-10675 whereas strong resistance would be seen 10900-10922-10945-10980 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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Important Results To Be Disclosed Today: Aditya Birla Fashion, Bayer CropScience, BBTC, Exide Industries, Firstsource Solutions, Future Retail, Glaxosmithkline Pharma, Godrej Agrovet, Greaves Cotton, Grindwell Norton, Honeywell Automation, IDBI Bank, IRB Infrastructure, KEI Industries, Lakshmi Machine Works, Lakshmi Vilas Bank, Navneet Education, SREI Infrastructure, SRF, Star Cement, Sun Pharma Advance Research Company, Tata Investment Corporation, TI Financial Holdings, Welspun India and Whirlpool Of India Ltd.
NSE Nifty: (10894) The support for the Nifty is 10812-10749-10700-10675 and the resistance to the up move is at 10900-10922-10945-10980 levels.
NSE BankNifty: (27086) The support for BankNifty is at 27026-26988-26865-26800 and the resistance to the up move is at 27380-27456-27500-27600 levels.
BSE Sensex: (36469) The support for the Sensex is at 36320-36235-36100-36025 and the resistance to the up move is at 36600-36780-36880-36946 levels.
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