Go Long Only If Nifty Closes Above 10245, Infy and HDFC Bank Results Today
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that Nifty would see positive rally but traders should go short at every positive rally in the market until Nifty closes above 10245 levels and exactly same happened. Indian Stock Market moved sharply positive to 10224 levels for Nifty but fell down sharply from there to see lows exactly at EquityPandit’s predicted support levels of 32318 for Sensex, 23920 for BankNifty and 10123 for Nifty like a dot. Finally, Indian Stock Market recovered and closed positive for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in negative zone. Nifty would enter into positive zone once it closes above 10245 levels for Nifty and 24362 levels for BankNifty. Until then traders are suggested to go short at every positive rally in the market. Traders can initiate fresh long positions only if Nifty closes above 10245 levels on spot basis. Breaching levels of 10120 levels would force Nifty to see target of 10049 on the downside. Infosys and HDFC Bank to disclose its quarterly results and it would affect Indian Stock Market direction for the day.
FIIs were net sellers of Rs.81.51 crores whereas DIIs were net buyers of Rs.307.84 crores in cash market for last trading session. Nifty would see strong support at 10120-10080-10047-10020 whereas strong resistance would be seen at 10200-10224-10252-10300 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, DHFL, HDIL, IBREALEST, INFIBEAM, JPASSOCIAT,JSWENERGY and RELCAPITAL.
Corporate Earnings To Be Disclosed Today: ABB India, Ambuja Cements, Asian Paints, Can Fin Homes, Chambal Fertilisers and Chemicals, GHCl, HDFC Bank, ICICI Prudential, Infosys, L&T Finance Holdings, Mahindra CIE, Radico Khaitan, Rallis India, Raymond, Trident, TTK Prestige and Zee Entertainment Enterprises Ltd.
NSE Nifty: (10185) The support for the Nifty is 10120-10080-10047-10020 and the resistance to the up move is at 10200-10224-10252-10300 levels.
NSE BankNifty: (24089) The support for BankNifty is at 24000-23920-23880-23820-23765 and the resistance to the up move is at 24165-24228-24252-24390 levels.
BSE Sensex: (32507) The support for the Sensex is at 32380-32318-32165-32082 and the resistance to the up move is at 32615-32670-32700-32760 levels.
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