Market To See Some Consolidation Until It Closes Above 11000 For Nifty

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that market would consolidate and may see some profit booking until it breaches 11000 for Nifty and exactly same happened. Indian Stock Market consolidated for the whole day and saw lows right at EquityPandit’s predicted support levels of 27380 like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, nothing has changed. Nifty is still in positive zone whereas BankNifty is still in negative zone. BankNifty would enter into positive zone only if it closes above 27585 levels on spot basis until then market would see some sideways movement with some profit booking. For positive movement to continue, market needs to close above 27585 levels for BankNifty and 11000 levels for Nifty.

FIIs were net sellers of Rs.78.53 crores whereas DIIs were net sellers of Rs.84.15 crores in cash market for last trading session. Nifty would see strong support at 10900-10840-10800-10749 whereas strong resistance would be seen 10962-10985-11000-11025-11078 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: ADANIPOWER, JETAIRWAYS and RELCAPITAL.

Important Results To Be Disclosed Today: Bank Of Maharashtra, BASF India, Bharti Infratel, Can FIn Homes, DB Corp, Dishman Carbogen Amcis, Essel Propack, Interglobe Aviation, ITC, JM Financial, Navin Fluorine, Pidilite Industries, Radico Khaitan, Raymond, Reliance Communication, Tejas Networks, Ujjivan Financial Services and Vijaya Bank.

NSE Nifty: (10923) The support for the Nifty is 10900-10840-10800-10749 and the resistance to the up move is at 10962-10985-11000-11025-11078 levels.

NSE BankNifty: (27482) The support for BankNifty is at 27380-27172-27026 and the resistance to the up move is at 27600-27661-27740-27780-27880 levels.

BSE Sensex: (36445) 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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