Market Ready For A Big Movement On The Reaction Of Budget

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market would remain choppy for today ahead of Union Budget and exactly same happened. Market remained choppy for the whole trading session and fell down to see lows right at EquityPandit’s predicted support levels of 8550 for Nifty and 27635 for Sensex. Traders, who followed EquityPandit’s prediction might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, Nifty has entered into negative zone whereas BankNifty is still in positive zone. Now, today is D-day and we have Union Budget announcements. Today, huge volatility would be seen and all trends would be based on Union Budget announcement. Market would see sharp sector specific swings based on the announcements. Traders are suggested to wait Until Budget announcement completes. Traders can go long if Nifty spot closes above 8669 levels and go short if BankNifty spot closes below 19406 levels. If Nifty closes above 8669 levels then the next stop would be at 9000 levels. Market can see some sharp correction if BankNifty spot closes below 19406 levels.

FIIs were net sellers of Rs.532.88 crores whereas DIIs were net buyers of Rs.237.37 crores in cash market for last trading session. Nifty would see strong support at 8496-8470-8420-8396-8350 whereas strong resistance would be seen at 8620-8665-8707-8740-8800 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 Results To Be Disclosed Today: Apollo Tyres, BASF India, Cummins India, Eicher Motors, Gujarat Pipavav Port, Himatsingka Seide, Majesco, Pidilite Industries, Shree Renuka Sugars, Suven Life Sciences and Tata Global Beverages.

NSE Nifty: (8561) The support for the Nifty is 8496-8470-8420-8396-8350 and the resistance to the up move is at 8620-8665-8707-8740-8800 levels.

NSE BankNifty: (19515) The support for BankNifty is at 19400-19330-19270-19110-19000 and the resistance to the up move is at 19800-19920-20000-20270 levels.

BSE Sensex: (27656) The support for the Sensex is at 27540-27390-27170-26960 and the resistance to the up move is at 27880-27970-28071-28218 levels.

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