Market To Open Gap Negative As North Korea Fires Missile Over Japan
Last Trading Session: Indian Stock Market opened positive as per EquityPandit’s predictions. EquityPandit predicted that traders can go long at dips until Nifty holds 9750 levels on closing basis. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 9928 for Nifty. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market to open gap Negative after North Korea fired a ballistic missile over Japan. Technically, Indian Stock Market has entered into positive zone but Nifty has formed DOJI candlestick pattern that suggest indecisiveness and profit booking can’t be ruled out. Nifty would see sharp correction below 9880 levels. Market would be bullish only if it closes above 9950. Closing above 9950 would form Double Bottom pattern for Nifty that is strongly bullish in nature. Traders should add long positions only once Nifty closes above 9950 levels. Until then traders can wait and watch as North Korea worries would initiate sharp profit booking across all markets around the globe.
FIIs were net sellers of Rs.124.74 crores whereas DIIs were net buyers of Rs.476.26 crores in cash market for last trading session. Nifty would see strong support at 9860-9815-9785-9750 whereas strong resistance would be seen at 9928-9950-9965-10000 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: BEML, GMRINFRA, HDIL, IBREALEST, INDIACEM, JPASSOCIAT, JSWENERGY, JUSTDIAL and RELCAPITAL.
NSE Nifty: (9913) The support for the Nifty is 9860-9815-9785-9750 and the resistance to the up move is at 9928-9950-9965-10000 levels.
NSE BankNifty: (24377) The support for BankNifty is at 24234-24170-24066-23935 and the resistance to the up move is at 24460-24535-24625-24720 levels.
BSE Sensex: (31751) The support for the Sensex is at 31524-31470-31420-31340-31265 and the resistance to the up move is at 31810-31860-31938-32060 levels.
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