Continue Long Until Nifty Holds 10232, ICICI Bank, ITC and Maruti Results Today

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see some profit booking but traders can go long at dips in the market and exactly same happened. Indian Stock Market saw some profit booking while opening trade but recovered sharply from day lows to close at lifetime highs. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market to open flat with positive bias. Technically, Indian Stock Market has entered into positive zone. Market looking bullish as of now and traders can continue to hold long positions in the market until Market holds 10232 spot levels for Nifty and 24632 spot levels for BankNifty on closing basis. Some profit booking can’t be ruled out but traders should not initiate short positions until Nifty holds above 10232 on closing basis. Few Corporate giants like Canara Bank, ICICI Bank, ITC and Maruti Suzuki to disclose its results today and would affect Indian Stock Market direction for the day.

FIIs were net sellers of Rs.375.63 crores whereas DIIs were net sellers of Rs.523.54 crores in cash market for last trading session. Nifty would see strong support at 10295-10270-10232-10200 whereas strong resistance would be seen at 10386-10400-10440-10485 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: IBREALEST.

Corporate Earnings To Be Disclosed Today: Aditya Birla Fashion & Retail, Canara Bank, ICICI Bank, IOC, ITC, J&K Bank, Kaveri Seed Company, Linde India, Maruti Suzuki India, PVR and Sun Pharma Advance Research Company Ltd.

NSE Nifty: (10344) The support for the Nifty is 10295-10270-10232-10200 and the resistance to the up move is at 10386-10400-10440-10485 levels.

NSE BankNifty: (25022) The support for BankNifty is at 24865-24778-24570 and the resistance to the up move is at 25200-25280-25380-25500 levels.

BSE Sensex: (33147) The support for the Sensex is at 33012-32800-32670-32600 and the resistance to the up move is at 33180-33240-33380 levels.

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