Union Budget Would Keep Market Highly Volatile Today, Wait For Confirmation

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see some short covering but it would still be considered bearish and traders should not initiate any long positions in the market. Market moved positive and saw highs right at Equitypandit’s predicted resistance levels of 12105 for Nifty like a dot. Market saw sharp downfall from there exactly as predicted by EquityPandit and saw lows right near EquityPandit’s predicted support levels of 11940 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone. Today, Union Budget would be presented and market trend would purely depend on the Budget. Traders can properly hedge the open positions as market would be highly volatile and single directional position without proper hedging could be fatal. If the budget is not able to impress the street then we would see sharp fall but in case the announcements are as per the expectations of the street then we would see sharp rally in the market in upcoming days. Traders can wait for the day to take any directional trades. For now all trades should be properly hedged to avoid any risk.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.4179.12 crores whereas DIIs were net buyers of Rs.3816.44 crores in cash market for last trading session. Nifty would see strong support at 11900-11870-11850-11800 whereas strong resistance would be seen at 11205-12041-12083-12110 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (11962) The support for the Nifty is 11900-11870-11850-11800 and the resistance to the up move is at 11205-12041-12083-12110 levels.

NSE BankNifty: (30834) The support for BankNifty is 30700-30635-30550-30445 and the resistance to the up move is 30885-30950-31067-31180 levels.

BSE Sensex: (40723) The support for the Sensex is 40660-40600-40518-40440 and the resistance to the up move is at 40800-40880-40995-41035-41110 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