Go Long Only If Nifty Closes Above 9911: RIL, Kotak Bank And Wipro Results Today

Last Trading Session: Indian Stock Market opened flat with positive bias as expected. Nifty recovered smartly and managed to close right at EquityPandit’s predicted resistance levels of 9900 like a dot. BankNifty made new record highs right at EquityPandit’s predicted resistance levels of 24180 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market to open flat. Technically, Nifty is still in negative zone but would enter into positive zone once it closes above 9911 levels. Market would see strong resistance at 10000 levels for Nifty whereas strong support would be seen at 9800 levels. Traders can take long positions if Nifty managed to close above 9911 levels. Few Indian Corporate Giants like Reliance Industries, Wipro, Kotak Bank and Bajaj Auto would disclose its quarterly earnings today and would affect Indian Stock Market direction for the day.

FIIs were net buyers of Rs.1046.65 crores whereas DIIs were net sellers of Rs.12.48 crores in cash market for last trading session. Nifty would see strong support at 9848-9800-9778-9737 whereas strong resistance would be seen at 9900-9918-9930-9970 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: ABB India, Alembic Pharma, Bajaj Auto, Bajaj Holdings, DB Corp, Force Motors, Hindustan Zinc, Kansai Nerolac Paints, Kotak Mahindra Bank, Mahindra CIE, NIIT Technologies, Rallis India, RBL Bank, Reliance Industries, Wipro and Zensar Technologies.

NSE Nifty: (9900) The support for the Nifty is 9848-9800-9778-9737 and the resistance to the up move is at 9900-9918-9930-9970 levels.

NSE BankNifty: (24153) The support for BankNifty is at 24060-23940-23880 and the resistance to the up move is at 24180-24270-24336-24380 levels.

BSE Sensex: (31955) The support for the Sensex is at 31880-31718-31660 and the resistance to the up move is at 32090-32110-32180-32240 levels.

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