Traders Can Go Long Above 9370 And Short Below 9270 For Nifty On Closing Basis 

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Nifty would consolidate between 9270 and 9370 and exactly same happened. EquityPandit also predicted that until then traders can go long near EquityPandit’s predicted support levels and short near EquityPandit’s predicted resistance levels. Indian Stock Market moved higher but saw highs right at EquityPandit’s predicted resistance levels of 30067 for Sensex and 9354 for Nifty like a dot. Market fell down sharply from there and saw lows right near EquityPandit’s predicted support levels of 9270 like a dot. BankNifty also saw lows right near EquityPandit’s predicted support levels of 22270 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open positive. Technically, analysis would remain same and Indian Stock Market is still in positive trend. Nifty would enter into negative trend only if it closes below 9270 whereas we would see sharp breakout if Nifty closes above 9370. Traders should wait for Nifty to breach any of these levels and take the positions accordingly. Banking Giant ICICI Bank would disclose its quarterly results today and would decide further market direction. Overall, Banking sector is strong and if ICICI results are as per the street expectations, we can see new highs in BankNifty in days to come. But if ICICI Bank results fell short of street expectations, we would see downward trajectory in Banking sector. Breaching levels of 22265 for BankNifty would force market to see sharp downfall on closing basis. Nifty would be considered strong until it holds 9270 and below these levels, we may see sharp downfall upto 9200 levels.

FIIs were net sellers of Rs.611.82 crores whereas DIIs were net buyers of Rs.541.39 crores in cash market for last trading session. Nifty would see strong support at 9300-9270-9250-9218-9200 whereas strong resistance would be seen at 9354-9370-9400-9415 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

Important Corporate Results Today: Ajanta Pharma, Alembic Pharma, DHFL, ICICI Bank and L&T Technology Services.

NSE Nifty: (9314) The support for the Nifty is 9300-9270-9250-9218-9200 and the resistance to the up move is at 9354-9370-9400-9415 levels.

NSE BankNifty: (22341) The support for BankNifty is at 22270-22180-22138-22000-21940 and the resistance to the up move is at 22380-22474 levels.

BSE Sensex: (29921) The support for the Sensex is at 29825-29770-29690-29540 and the resistance to the up move is at 29962-30067-300180-30270 levels.

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