Nifty To See Sharp Downfall If 9955 Breached, IndusInd Bank and TCS Results Today

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that traders can hold long positions until Nifty holds 10000 mark but once Nifty breaches those levels, Nifty would see sharp selling pressure and exactly same happened. Indian Stock Market moved sharply positive and saw highs at 10067 levels for Nifty. BankNifty saw highs right at EquityPandit’s predicted resistance levels of 24462 like a dot. Market tanked sharply from intraday highs. The downfall was so sharp that Nifty was not able to hold 10000 levels and hence saw further downfall till 9955 levels as per Equitypandit predictions. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open positive. Technically, Indian Stock Market is still in positive zone until Nifty holds 9923 levels on closing basis. Wall Street closed at record highs, so some positive movement is not ruled out but Nifty has formed a bearish signal in last trading session, so traders can go short after a positive movement around 10028-10055 for intraday with strict stoploss of 10074 levels for Nifty. Once Nifty breaches 10074 levels, it would resume its bullish movement. Nifty would see selling pressure below 9955 levels and Once market closes below 9927 levels for Nifty and 24075 levels for BankNifty spot levels then traders can take short positions home as market would enter into negative zone in that case. IndusInd Bank and TCS would disclose their quarterly results today and would affect Indian Stock Market direction for the day.

FIIs were net sellers of Rs.107.95 crores whereas DIIs were net buyers of Rs.233.80 crores in cash market for last trading session. Nifty would see strong support at 9950-9922-9900-9880 whereas strong resistance would be seen at 10028-10041-10080-10098 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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Stocks In F&O Ban Period: BEML, DHFL, IBREALEST, JSWENERGY, RCOM and RELCAPITAL.

Corporate Earnings To Be Disclosed Today: Bajaj Corp, Cyient, IndusInd Bank and TCS.

NSE Nifty: (9985) The support for the Nifty is 9950-9922-9900-9880 and the resistance to the up move is at 10028-10041-10080-10098 levels.

NSE BankNifty: (24107) The support for BankNifty is at 24038-23940-23820-23750 and the resistance to the up move is at 24200-24312-24380-24422-24462 levels.

BSE Sensex: (31834) The support for the Sensex is at 31780-31718-31660-31540 and the resistance to the up move is at 31900-31964-32075-32000 levels.

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