Nifty To See 9865-9840 If 9892 Breaches, Recovery Expected If 9892 Holds

Last Trading Session: Indian Stock Market opened negative for the day. Last Friday, EquityPandit predicted that market has entered negative zone and traders should short at every positive movement and exactly same happened. Market has seen a sharp downfall since then. Traders, who followed EquityPandit’s advice might have generated huge profits in last 3 trading sessions. Finally, market took support near 9900 levels and managed to close above those levels but in gap negative zone.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in negative zone. 9900 is an important level to watch for traders. If Nifty trades below 9900 for sometime, then next logical support would be at 9862 levels. There is strong chances of bounceback from here but traders should remain cautious at this point of time as Geopolitical tensions would weigh on markets across the globe. If Nifty is not able to bounceback from these levels then a sharp downfall would be seen till 9862-9838-9792 levels. Breaching 9892, would force Nifty to see targets of 9865-9840 levels on spot basis.

FIIs were net sellers of Rs.841.44 crores whereas DIIs were net buyers of Rs.553.17 crores in cash market for last trading session. Nifty would see strong support at 9892-9862-9838-9792 whereas strong resistance would be seen at 9970-9992-10000-10022 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: Adani Power, Adani Transmission, Allcargo Logistics, Bharat Forge, BHEL, Bombay Dyeing, Coffee Day, Dhanuka Agrotech, GAIL, Gujarat Gas, Gujarat Pipavav, Hathway Cable & Datacom, HFCL, Indian Overseas Bank, Kajaria Ceramics, KRBL, Manappuram Finance, Manpasand Beverages, MOIL, Motherson Sumi, Page Industries, Petronet LNG, Phoenix Mills, PFC, PTC India, Religare Enterprises, Shipping Corporation Of India, SpiceJet, Sudarshan Chemical, Suntech Realty, Symphony, Titagarh Wagons, Union Bank Of India, United Breweries and Zydus Wellness.

NSE Nifty: (9908) The support for the Nifty is 9892-9862-9838-9792 and the resistance to the up move is at 9970-9992-10000-10022 levels.

NSE BankNifty: (24375) The support for BankNifty is at 24280-24234-24170-24066 and the resistance to the up move is at 24460-24535-24625-24720 levels.

BSE Sensex: (31798) The support for the Sensex is at 31718-31625-31470 and the resistance to the up move is at 31860-31968-32090-32240 levels.

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