Sharp Positive Rally To Be Seen But Go Short At Higher Levels Until Nifty Holds 8530

Last Trading Session: Indian Stock Market opened flat for the day. Market managed to breach EquityPandit’s support of 8480 level for Nifty and fell down sharply. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap positive. Overall Indian Stock Market is still in negative zone but now we can see some sharp short covering rally (Positive Rally). Now major trigger for the market would be US Presidential Elections Outcome. Indian Stock Market would be highly volatile in next 4 days and market is expected to see a movement of 3-5% or even more in next 4 days mainly on Wednesday and Thursday. EquityPandit expects that the trends suggesting Hillary Clinton win would force market to see around 2-3% upmove on Next Wednesday and Thursday whereas Donald Trump win would force market to see a “V” Shape movement where we can expect a downfall of around 3-5% which would be followed by sharp recovery. Today, sharp positive rally would be seen before elections, so traders should go short at positive rally until Nifty holds 8530 and BankNifty holds 19343 spot levels on closing basis. The best trade for traders is to buy both Call and Put options of BankNifty in cyclic manner which would overall yield handsome profit after Elections.
FIIs were net sellers of Rs.343.30 crores whereas DIIs were net buyers of Rs.1089.86 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280 whereas strong resistance would be seen at 8505-8580-8620-8636 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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Important Results To Be Disclosed Today: Aban Offshore, Aegis Logistics, Britannia Industries, CEAT Ltd, eClerx Services, EID Parry, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, HSIL, ICICI Bank, Sanofi India, Shree Cement and Vakrangee Ltd.

NSE Nifty: (8434) The support for the Nifty is 8400-8360-8315-8280 and the resistance to the up move is at 8505-8580-8620-8636 levels.

NSE BankNifty: (19058) The support for BankNifty is at 18950-18825-18720-18600 and the resistance to the up move is at 19220-19350-19435-19490 levels.

BSE Sensex: (27274) The support for the Sensex is at 27190-27060-26950-26830 and the resistance to the up move is at 27405-27500-27640-27720 levels.

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