Some Short-Covering Would Be Seen Until Nifty Holds Above 10000 Support Levels 

Last Trading Session: Indian Stock Market opened flat with negative bias exactly as predicted by EquityPandit. EquityPandit predicted that market is in negative zone but strong support exists at 10000 levels for Nifty and recovery is possible until Nifty holds above 10000 levels and exacty same happened. Indian Stock Market would move sharply negative and saw strong lows right at EquityPandit’s predicted support levels of 10000 for Nifty like a dot. Finally, Indian Stock Market closed gap negative for the day but above Equitypandit’s predicted support levels of 10000 for Nifty.

Today: Indian Stock Market would open positive for the day. Technically, Indian Stock Market is still in negative zone and would enter into positive zone only if it closes above 10227 for Nifty and 25009 for BankNifty. Though Market would see strong support at 10000 levels for Nifty and would recover from there but the risk of breaching 10000 levels for Nifty would prevail until market trades below EquityPandit’s predicted reversal levels of 10227 for Nifty and 25009 for BankNifty. Breaching 10000-9950 zone for Nifty would prove fatal for market and we could see sharp downfall in that case. But for now, 10000 would act as strong support for Nifty and we would see some recovery from here but traders should trade long only with strict stoploss of 9950 for Nifty.

FIIs were net sellers of Rs.1356.66 crores whereas DIIs were net buyers of Rs.1875.89 crores in cash market for last trading session. Nifty would see strong support at 10000-9978-9950-9923 whereas strong resistance would be seen 10125-10156-10194-10220 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Important Quarterly Results To Be Declared Today: BPCL, Carborundum Universal, Chambal Fertilizers, Chennai Petroleum, Colgate Palmolive, DCM Shriram, Finolex Industries, Granules India, GRUH Finance, HSIL, IFB Industries, Just Dial, KPR Mill, KRBL, LIC Housing Finance, Mahindra Holidays, Meghmani Organics, Monsanto India, Nilkamal, Solar Industries India, Sudarshan Chemical Industries, Sundram Fasteners, Supreme Industries, Tata Power Company, Union Bank Of India and Vijaya Bank.

Stocks In F&O Ban Period: ADANIPOWER.

NSE Nifty: (10030) The support for the Nifty is 10000-9978-9950-9923 and the resistance to the up move is at 10125-10156-10194-10220 levels.

NSE BankNifty: (24421) The support for BankNifty is 24340-24202-24082-23840-23760 and the resistance to the up move is at 24560-24670-24832-24900 levels.

BSE Sensex: (33349) The support for the Sensex is at 33280-33139-33040 and the resistance to the up move is at 33439-33546-33715 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services