Market Would Remain Bearish Until Nifty Holds Below 9170 By Closing
Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit suggested to go short at positive rally in the market near EquityPandit’s predicted resistance levels. Indian Stock Market remained rangebound but later moved positive for the day. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone and analysis would still remain same. Now Indian Stock Market would remain rangebound. Market would enter into positive zone once it closes above 9170 for Nifty and 18508 for BankNifty and until then market would consolidate and traders should hold short positions. Traders should initiate long positions only if market closes above 9170 for Nifty and 18508 for BankNifty.
Check the Trend Of Major Indices and Stocks
FIIs were net sellers of Rs.1466.52 crores whereas DIIs were net buyers of Rs.2373.19 crores in cash market for last trading session. Nifty would see strong support at 9024-8980-8900-8821 whereas strong resistance would be seen at 9127-9156-9204-9265 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Disclosed Today: Bajaj Finserv, Bajaj Holdings & Investments, Birla Corporation, Colgate Palmolive, Hawkins Cooker, Hindustan Zinc, Tata Metaliks and VST Industries.
NSE Nifty: (9067) The support for the Nifty is 9024-8980-8900-8821 and the resistance to the up move is at 9127-9156-9204-9265 levels.
NSE BankNifty: (17840) The support for BankNifty is 17665-17480-17245-17035 and the resistance to the up move is 18075-18390-18532 levels.
BSE Sensex: (30819) The support for the Sensex is 30762-30680-30460-30335 and the resistance to the up move is at 31125-31390-31611-31880 levels.
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