Nifty Consolidating, Recovery To Be Seen If Managed To Hold Above 10250
Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market is still in negative zone and traders can hold short positions for now. Indian Stock Market moved sharply negative and saw lows near 10250 levels for Nifty. Sensex also saw lows right at EquityPandit’s predicted support levels of 33108 like a dot. Finally, Market recovered smartly by the end of the trading session and managed to close positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Indian Stock Market is now rangebound and would enter into positive zone once it closes above 10385 for Nifty and 25560 levels for BankNifty. BankNifty formed strong bullish candle in last trading session and suggest that further recovery is possible. Traders can initiate fresh long positions Only if Market manage to close above 10385 for Nifty and 25560 levels for BankNifty. Nifty would see sharp downfall if breaches 10250 but until then a sharp recovery is very much possible in the market. Traders are suggested to wait for either of levels to breach and take trade accordingly. Close above 25560 for BankNifty would force BankNifty to see new record highs and possible targets of 25800-26000 in days to come.
FIIs were net sellers of Rs.529.22 crores whereas DIIs were net buyers of Rs.1920.87 crores in cash market for last trading session. Nifty would see strong support at 10300-10270-10232-10200 whereas strong resistance would be seen at 10352-10386-10400-10440 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: DHFL, HDIL, IBREALEST, INDIACEM, INFIBEAM, JETAIRWAYS, JISLJALEQS, JSWENERGY, JUSTDIAL and RCOM.
Corporate Earnings To Be Disclosed Today: Adani Enterprises, Adani Ports, Apollo Hospitals, Bajaj Hindusthan Sugar, Dhanuka Agritech, Gillette India, GSPL, Idea Cellular, Indian Hotels, Kalpataru Power Transmission, Marksans Pharma, Max Financial Services, NMDC, NTPC, PC Jeweller, P&G, PTC, Repco Home Finance, Sadbhav Engineering, Schneider Electric, Shree Renuka Sugars, SJVN, Sonata Software, SpiceJet, Sunteck Realty, Tamil Nadu Newsprint, Tata Chemicals, TVS Srichakra, Vakrangee Ltd and Zydus Wellness Ltd.
NSE Nifty: (10322) The support for the Nifty is 10300-10270-10232-10200 and the resistance to the up move is at 10352-10386-10400-10440 levels.
NSE BankNifty: (25499) The support for BankNifty is at 25400-25327-25250-25165 and the resistance to the up move is at 25560-25695-25800 levels.
BSE Sensex: (33315) The support for the Sensex is at 33155-33108-33012-32940 and the resistance to the up move is at 33400-33451-33500-33660 levels.
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