F&O Expiry Today, Market To Remain Highly Volatile On Financial Year Closing
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that market would see sideways movement before resuming positive rally and exactly same happened. Market saw highs right near EquityPandit’s predicted resistance levels of 38487 for Sensex and 30270 for BankNifty. Indian Stock Market saw some profit booking and sideways movement for the day. Nifty saw lows right near EquityPandit’s predicted support levels of 11408 like a dot. Finally, Indian Stock Market closed flat with negative bias whereas BankNifty closed gap positive for the day. BankNifty closed right below EquityPandit’s predicted resistance levels of 30027.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is in positive zone but market would continue to see profit booking. Today is F&O Expiry and market would remain highly volatile for the day due to financial year ending settlement. Market is expected to see some downfall but traders should go long at every dip in the market. It is advised not to trade today or else trade in small quantity. Market would enter into negative zone once it closes below 11364 levels for Nifty and 29596 levels for BankNifty and until then traders should go long at every dip in the market.
FIIs were net buyers of Rs.1481.11 crores whereas DIIs were net sellers of Rs.134.92 crores in cash market for last trading session. Nifty would see strong support at 11408-11364-11340-11315 whereas strong resistance would be seen 11518-11560-11585-11620 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: ADANIENT, ADANIPOWER, IDBI and JETAIRWAYS.
NSE Nifty: (11445) The support for the Nifty is 11408-11364-11340-11315 and the resistance to the up move is at 11518-11560-11585-11620 levels.
NSE BankNifty: (30020) The support for BankNifty is at 29830-29721-29650-29545 and the resistance to the up move is at 30075-30140-30270-30380 levels.
BSE Sensex: (38133) The support for the Sensex is at 38085-38956-37820-37755 and the resistance to the up move is at 38370-38402-38487-38565 levels.
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