Nifty To See 9860-9880 If Closes Above 9823, Bearish Again Below 9750

Last Trading Session: Indian Stock Market opened gap positive, exactly as predicted by EquityPandit. EquityPandit predicted that market would see sharp recovery but short selling opportunity would be seen again near 9820-9850 resistance levels and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 9820 like a dot. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 24200. Nifty saw sharp profit booking from 9820 levels as predicted by EquityPandit but finally, managed to close gap positive for the day.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in negative zone. Nifty has formed a bullish candle after a Doji Candlestick that suggest that bulls are again active. Now, if market managed to close above 9823 levels then we may see upmove towards 9860-9880 levels whereas bears would be active below last day’s Intraday lows of 9750 levels. Nifty would resume its downtrend if it breaches 9700 levels, that may open the doors of downfall for Nifty till 9550 levels.

FIIs were net sellers of Rs.1638.83 crores whereas DIIs were net buyers of Rs.1619.17 crores in cash market for last trading session. Nifty would see strong support at 9750-9700-9670-9638 whereas strong resistance would be seen at 9823-9860-9880 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

NSE Nifty: (9794) The support for the Nifty is 9750-9700-9670-9638 and the resistance to the up move is at 9823-9860-9880 levels.

NSE BankNifty: (24116) The support for BankNifty is at 24038-23940-23820-23750 and the resistance to the up move is at 24200-24312-24460-24535 levels.

BSE Sensex: (31449) The support for the Sensex is at 31192-31120-31066-31000 and the resistance to the up move is at 31505-31632-31688-31760 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