Profit Booking To Be Seen But Market Strong Until Nifty Holds 9375

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that traders can hold long positions until Nifty holds 9367 levels and exactly same happened. Nifty saw highs right at EquityPandit’s predicted resistance levels of 9450 like a dot. Sensex also saw strong resistance near EquityPandit’s predicted resistance levels of 30367 levels. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone. Nifty would possess strong support near 9400 levels. Market would see reversal only if Nifty closes below 9375 levels. Market is ready for a big movement in either side. Some profit booking can’t be ruled out at this point of time as Nifty and BankNifty are near its major resistance levels. Technically, next target for Nifty is set to 9475-9500 but traders and investors should consider booking partial profits at this point of time and hold remaining quantity with stoploss of 9375 levels for Nifty on closing basis. Fresh Short can only be initiated if Nifty closes below 9375 levels. Tata Motors and PNB results Today. Also Check 4 Stocks To Watch Today

FIIs were net buyers of Rs.235.33 crores whereas DIIs were net sellers of Rs.65.77 crores in cash market for last trading session. Nifty would see strong support at 9420-9400-9370-9350whereas strong resistance would be seen at 9450-9475-9500-9550 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 Corporate Results Today: Andhra Bank, Dishman Pharma, Minda Industries, Oracle Financial Services Software, PI Industries, PNB, Shree Cement, Sobha, Symphony, Tata Steel and Whirpool Of India Ltd.

NSE Nifty: (9445) The support for the Nifty is 9420-9400-9370-9350 and the resistance to the up move is at 9450-9475-9500-9550 levels.

NSE BankNifty: (22822) The support for BankNifty is at 22730-22670-22629-22500 and the resistance to the up move is at 22890-22980-23060 levels.

BSE Sensex: (30322) The support for the Sensex is at 30300-30270-30185-30110and the resistance to the up move is at 30367-30480-30540 levels.

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