Market Still In Consolidation, Wait For Nifty To Break The Range Of 9270-9370 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market would still remain in consolidated zone and traders should go long only above 9370 and short below 9270 for Nifty on closing basis until then market would remain rangebound and traders can go long at EquityPandit’s predicted support and short at resistance. Nifty remained rangebound for the day and saw lows right at EquityPandit’s predicted support levels of 9300 like a dot. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open flat. Technically, analysis would still remain same and Indian Stock Market is still in positive trend. Market has been seeing sideways movement and we may soon see a sharp breakout or breakdown from this range of 9270-9370. Traders can wait with cash in hand and enter as soon as the range breakout or breakdown is seen on closing basis. A big move is nearby and traders should not be in hurry to enter any trade until the levels are confirmed. Until then traders can continue to buy at EquityPandit’s predicted support and sell at resistance levels.

FIIs were net sellers of Rs.517.74 crores whereas DIIs were net buyers of Rs.112.36 crores in cash market for last trading session. Nifty would see strong support at 9300-9270-9250-9218-9200 whereas strong resistance would be seen at 9354-9370-9400-9415 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

Important Corporate Results Today: Bank Of Maharashtra, BASF India, Cera Sanitaryware, Emami, Exide Industries, Godrej Properties, Greaves Cotton, HCC, HDFC, IIFL Holdings, L&T Finance, L&T Infotech, MRF, MCX, Oberoi Realty, Tata Communication and Wokhardt.

NSE Nifty: (9312) The support for the Nifty is 9300-9270-9250-9218-9200 and the resistance to the up move is at 9354-9370-9400-9415 levels.

NSE BankNifty: (22307) The support for BankNifty is at 22270-22180-22138-22000-21940 and the resistance to the up move is at 22380-22474 levels.

BSE Sensex: (29894) The support for the Sensex is at 29825-29770-29690-29540 and the resistance to the up move is at 29962-30067-300180-30270 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