Big Events This Week To Generate Huge Volatility, Hedge Your Positions

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market is still in negative zone and traders should hold short positions until Nifty closes above 8962 levels for Nifty and exactly same happened. Indian Stock Market fell down sharply but saw strong support near EquityPandit’s predicted support levels of 8850. Market recovered from day lows and Finally, closed flat for the day.

Today: Indian Stock Market would open flat. Technically, Analysis would remain same and Indian Stock Market is still in negative zone for now. Now this week is full of big events. ECB Interest rate decision on March 09, 2017 and UP Election Counting on March 11, 2017 would create huge volatility. Market would enter into positive zone once it closes above 8950 for Nifty and 20725 for BankNifty. Once Nifty and BankNifty closes above these levels, traders can initiate long positions in the market but until then traders should hold short positions. Make sure that every trade should be perfectly hedged as huge volatility would be seen in the market. BankNifty would see around 4% movement before March 16, 2017 option expiry on either side and we expect BankNifty to breach 21000 in positive direction or 20000 in negative direction post UP Election Results, so traders can go for Long strangle or Long straddle positions in BankNifty Options for 16 March 2017 Expiry for handsome gains.

FIIs were net buyers of Rs.1529.48 crores whereas DIIs were net sellers of Rs.737 crores in cash market for last trading session. Nifty would see strong support at 8850-8815-8800-8780 whereas strong resistance would be seen at 8920-8962-8980-9005 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

NSE Nifty: (8898) The support for the Nifty is 8850-8815-8800-8780 and the resistance to the up move is at 8920-8962-8980-9005 levels.

NSE BankNifty: (20495) The support for BankNifty is at 20450-20380-20295-20158 and the resistance to the up move is at 20580-20670-20742-20850-20920 levels.

BSE Sensex: (28832) The support for the Sensex is at 28780-28675-28550-28400 and the resistance to the up move is at 28950-29080-29154-29325 levels.

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