Market Still Bearish But Would Be Highly Volatile Before Union Budget, SBI, ITC Results Today

Last Trading Session: Indian Stock Market opened flat as predicted. EquityPandit predicted that market is still weak and risk of sudden downfall exists and exactly same happened. Indian Stock Market saw highs right near EquityPandit’s predicted resistance levels of 12155 for Nifty and 41380 for Sensex like a dot. Market fell down sharply from Equitypandit’s predicted resistance levels and saw lows right near 12000 levels for Nifty. Traders, who followed EquityPandit’s might have earned whopping profits for the day. Finally, Indian Stock Market closed gap negative for the day. Nifty closed right at EquityPandit’s predicted support levels of 12035 like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Now we are heading towards Union Budget tomorrow and market would remain rangebound for the day. Though huge volatility would persist but market would wait for tomorrow to confirm the trend. We would see rise in Option premiums due to huge volatility. Traders are suggested to book profits in short positions and if any position is been hold overnight then it should be hold with proper hedging.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.962.28 crores whereas DIIs were net buyers of Rs.292.32 crores in cash market for last trading session. Nifty would see strong support at 12000-11940-11905-11880 whereas strong resistance would be seen at 12065-12105-12150-12188 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Quarterly Results To Be Disclose Today: Aditya Birla Capital, Aegis Logistics, AIA Engineering, Bank of India, Castrol India, Coromandel International, Future Consumer, Hindustan Unilever, Indian Energy Exchange, Indian Hotels, ITC, J&K Bank, Jubilant Life Sciences, Kansai Nerolac Paints, Magma Fincorp, Narayana Hrudayalaya, Power Grid Corporation, Shoppers Stop, SBI, Sun Pharma Advanced Research Company, Tech Mahindra, Vedanta, V-Guard Industries and Vinati Organics.

NSE Nifty: (12036) The support for the Nifty is 12000-11940-11905-11880 and the resistance to the up move is at 12065-12105-12150-12188 levels.

NSE BankNifty: (30647) The support for BankNifty is 30550-30445-30335-30227 and the resistance to the up move is 30725-30800-30885-30950-31067 levels.

BSE Sensex: (40914) The support for the Sensex is 40880-40780-40715-40660 and the resistance to the up move is at 41035-41110-41180-41270-41380 levels.

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