Profit Booking To Be Seen But Initiate Short Only If Nifty Closes Below 10289

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is still in positive zone and traders can go long until Nifty holds 10262 levels on closing basis and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10386 for Nifty like a dot. Finally, Indian Stock Market closed gap positive for the day. BankNifty closed right below EquityPandit’s resistance levels of 25000.

Today: Indian Stock Market to open flat with negative bias. Technically, Indian Stock Market is still in positive zone and would enter into negative zone once market closes below 10289 for Nifty and 24632 levels for BankNifty. Traders can initiate fresh short positions if Nifty closes below 10289 levels but until then traders can hold long positions in the market. Market would now consolidate and would also see profit booking and hence traders should remain cautious and follow the levels strictly.

FIIs were net sellers of Rs.186.04 crores whereas DIIs were net buyers of Rs.139.68 crores in cash market for last trading session. Nifty would see strong support at 10289-10270-10232-10200 whereas strong resistance would be seen at 10386-10400-10440-10485 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: IBREALEST, JSWENERGY, WOCKPHARMA.

Corporate Earnings To Be Disclosed Today: Ajanta Pharma, Bharti Airtel, Blue Star, Capital First, Cholamandalam Investment & Finance, Container Corp of India, DB Corp, Dabur India, Divis Laboratories, Dr Reddy’s Laboratories, IDBI Bank, Info Edge, Inox Leisure, Interglobe Aviation, JSW Steel, KPIT Technologies, Redington India, Sanofi India, Strides Shashun, Symphony, Syndicate Bank, Tech Mahindra, Unichem Laboratories and VST Industries.

NSE Nifty: (10364) The support for the Nifty is 10289-10270-10232-10200 and the resistance to the up move is at 10386-10400-10440-10485 levels.

NSE BankNifty: (24989) The support for BankNifty is at 24778-2463224570 and the resistance to the up move is at 25065-25200-25280-25380 levels.

BSE Sensex: (33266) The support for the Sensex is at 33200-33012-32800-32670 and the resistance to the up move is at 33380-33440-33500 levels.

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