Nifty To Open Positive, Bullish Only Above 9860-9885, Sharp Downfall Below 9750
Last Trading Session: Indian Stock Market opened positive for the day as per EquityPandit predictions. EquityPandit predicted that market would see recovery but traders should go short at every positive rally and exactly same happened. Market moved sharply positive and saw highs 9828 levels for Nifty. Nifty saw a sharp downfall from there exactly to EquityPandit’s predicted support levels of 9750 like a dot. Finally, Indian Stock Market closed mildly positive for the day.
Today: Indian Stock Market to open gap positive followed by Wall Street rally on expectation of tax reforms. Technically, Indian Stock Market is still in negative zone. Now 9860-9885 would be major resistance zone for Nifty, breaching which bulls would again come in action and may take the index higher whereas breaching 9750 by closing would pave the path of further downfall for the market. If Nifty managed to close below 9750 then we may see levels of 9710-9685 immediately. Traders should wait for confirmation before taking heavy trades.
FIIs were net sellers of Rs.828.69 crores whereas DIIs were net buyers of Rs.435.05 crores in cash market for last trading session. Nifty would see strong support at 9750-9710-9685-9640 whereas strong resistance would be seen at 9828-9860-9885-9906 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: DLF, Fortis, GMR Infra, HDIL, Indiabulls Real Estate, JP Associate, JSW Energy and Justdial.
NSE Nifty: (9766) The support for the Nifty is 9750-9710-9685-9640 and the resistance to the up move is at 9828-9860-9885-9906 levels.
NSE BankNifty: (23974) The support for BankNifty is at 23820-23740-23660-23500 and the resistance to the up move is at 24090-24180-24270-24312 levels.
BSE Sensex: (31292) The support for the Sensex is at 31240-31170-31060-30940-30865 and the resistance to the up move is at 31345-31380-31430-31505 levels.
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