Positive Sentiments In Indian Market But US-China Trade War A Big Worry
Last Trading Session: Indian Stock Market opened negative for the day. Indian Stock Market moved sharply negative but later recovered sharply on the hopes of some stimulus from FM. Finally, Indian Stock Market closed gap positive for the day but BankNifty still remained under pressure for the day.
Today: Indian Stock Market would open positive. Indian Stock Market is still in negative zone. The stimulus package from the FM is a big positive for the market but US-China trade deal is a matter of big worry for the global markets. Asian markets would remain deeply negative and somewhere it would resist Indian Markets to enter into positive zone even after a positive news of Finance Minister’s Stimulus package. Indian Stock Market would enter into positive zone only if it closes above 10910 for Nifty and 27403 for BankNifty. Once Nifty and BankNifty closes above these levels then traders can initiate fresh long positions in the market until then traders should wait and watch.
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FIIs were net sellers of Rs.1737.20 crores whereas DIIs were net buyers of Rs.1548.49 crores in cash market for last trading session. Nifty would see strong support at 10800-10730-10685-10640 whereas strong resistance would be seen 10880-10920-10975-11009 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Stocks In F&O Ban Period: DHFL and IDBI.
NSE Nifty: (10829) The support for the Nifty is 10800-10730-10685-10640 and the resistance to the up move is at 10880-10920-10975-11009 levels.
NSE BankNifty: (26959) The support for BankNifty is 26880-26830-26720-26600 and the resistance to the up move is at 27103-27205-27300-27340 levels.
BSE Sensex: (36701) The support for the Sensex is at 36600-36518-36422-36320 and the resistance to the up move is at 36780-36880-36946-37025-37110 levels.
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