Karnataka Election Results Today, Market Would Remain Highly Volatile

Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in positive zone and traders can hold long positions or buy at dips in the market and exactly same happened. Indian Stock Market remained flat with positive bias almost for the whole day between EquityPandit’s predicted support and resistance of 10760 and 10840 respectively. Finally, Indian Stock Market closed flat the for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Today, Market would be driven by Karnataka Election results. Market would see certain wild swings in either direction, so traders should be prepared for this. BJP win may take the market sharply positive where it would see a top and profit booking would be seen at that point. But if BJP loses then a short-term correction would be seen in that case. So in both case, market would make it top today and a correction is immenent after that, for just couple of days or for short term, it would be dependent on the election results. Market would enter into negative zone if it closes below 10721 for Nifty and 26217 for BankNifty.

FIIs were net buyers of Rs.717.99 crores whereas DIIs were net buyers of Rs.687.23 crores in cash market for last trading session. Nifty would see strong support at 10760-10700-10675-10645 whereas strong resistance would be seen 10840-10885-10912 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: DHFL, IRB, JETAIRWAYS, JPASSOCIAT, JUSTDIAL and WOCKPHARMA.

Important Companies To Disclose Its Q4 Results Today: Britannia Industries, Crompton Greaves, Endurance Technology, Karnataka Bank, Lupin, Mangalore Refinery and Petrochemicals, Monsanto India, P I Industries, PNB, Reliance Communication, Suven Life Science, Syndicate Bank and Texmaco Rail & Engineering Ltd.

NSE Nifty: (10807) The support for the Nifty is 10760-10700-10675-10645 and the resistance to the up move is at 10840-10885-10912 levels.

NSE BankNifty: (26475) The support for BankNifty is at 26250-26000 and the resistance to the up move is at 26660-26800-27000 levels.

BSE Sensex: (35557) The support for the Sensex is at 35404-35200-35130-35070-35000 and the resistance to the up move is at 35660-35738-36000 levels.

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