Nifty Possess Support At 9370, Further Downfall If 9370 Is Broken

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market would still consolidate in the range of 9370-9350 levels and exactly same happened. Nifty opened positive but fell down sharply to see lows right at EquityPandit’s predicted support levels of 9370 like a dot. Finally, Indian Stock Market closed negative for the day. Sensex also closed right above EquityPandit’s predicted support levels of 30360 like a dot.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market, including Nifty, Sensex and BankNifty are still in negative zone. We are into F&O Expiry week and we would see huge volatility ahead of F&O Expiry. Nifty has already breached its immediate support of 9400 levels. Some bounce can be seen from current levels but once Nifty breaches the levels of 9370, we would see some further downfall towards 9336-9330 levels. BankNifty possess some immediate support at 22500, breaching which, we would see some further slide in BankNifty. Overall, market is choppy and traders can go short at rally in the market. The downfall would not be very steep, so keep booking profits continuously during the downside.

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FIIs were net sellers of Rs.400.53 crores whereas DIIs were net buyers of Rs.352.54 crores in cash market for last trading session. Nifty would see strong support at 9370-9336-9300 whereas strong resistance would be seen at 9400-9450-9480-9500 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: Adani Ports, Amara Raja Batteries, Bayer CorpScience, Bharat Forge, Dish TV, Kaveri Seed, Lupin, Religare Enterprises, Sundram Fasteners, Tata Investment Corporation, Timken India, TVS Srichakra and Wonderla Holidays..

NSE Nifty: (9386) The support for the Nifty is 9370-9336-9300 and the resistance to the up move is at 9400-9450-9480-9500 levels.

NSE BankNifty: (22583) The support for BankNifty is at 22500-22445-22307-22240 and the resistance to the up move is at 22618-22740-22764-22834 levels.

BSE Sensex: (30365) The support for the Sensex is at 30300-30270-30185-30110 and the resistance to the up move is at 30480-30540-30610-30710 levels.

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