Market To See Sharp Recovery Today Led By BankNifty, Hold Long Positions

Last Trading Session: Indian Stock Market opened gap negative as predicted by Equitypandit. EquityPandit predicted that market would see downfall on Italian Turmoil and traders should initiate short positions if market manages to close below 10570 for Nifty and 26166 for BankNifty. Indian Stock Market saw sharp downfall but managed to see strong support near EquityPandit’s predicted support levels of 10550 for Nifty and 34740 for Sensex. Market recovered sharply from there and managed to close above EquityPandit’s predicted reversal levels. Finally, Indian Stock Market closed marginally negative for the day.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in positive zone. Market were not able to close below EquityPandit’s predicted reversal levels in last trading session and hence market would still be considered bullish. Market would see sharp recovery today and traders can continue to hold long positions with strict stoploss below 10550 for Nifty. BankNifty is expected to see sharp positive rally today led by HDFC Bank and traders can continue to hold long positions in BankNifty with stoploss below 26166 on closing basis. Overall, Indian Stock Market expected to see sharp recovery today on F&O Expiry and traders should continue to hold long positions.

FIIs were net sellers of Rs.1286.91 crores whereas DIIs were net buyers of Rs.492.46 crores in cash market for last trading session. Nifty would see strong support at 10600-10570-10550-10500 whereas strong resistance would be seen 10705-10735-10780-10820 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

Stocks In F&O Ban Period: BALRAMCHIN, DHFL, GMRINFRA, IDBI, IDFCBANK, JPASSOCIAT, JUSTDIAL and RCOM.

Important Companies To Disclose Its Q4 Results Today: Hatsun Agro Product Ltd.

NSE Nifty: (10614) The support for the Nifty is 10600-10570-10550-10500 and the resistance to the up move is at 10705-10735-10780-10820 levels.

NSE BankNifty: (26328) The support for BankNifty is at 26320-26180-26100-26078 and the resistance to the up move is at 26660-26715-26800-26890-26971 levels.

BSE Sensex: (34906) The support for the Sensex is at 34900-34820-34740-34610 and the resistance to the up move is at 35270-35380-35440-35507 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