News Of Indian Govt. Banning Notes Would Force Market Fall, US Election Results To Be Seen

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that BankNifty has entered into positive zone and hence traders can go long in the market for instant profits and exactly same happened. Nifty opened positive but fell down from there and saw lows right at EquityPandit’s predicted support levels of 8480 like a dot. Sensex also saw lows right at EquityPandit’s predicted support levels of 27400 like a dot. Market recovered from day lows and saw sharp positive rally. Sensex saw highs right at EquityPandit’s predicted resistance levels of 27640 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open gap negative on the news of government banning Rs.500 & Rs.1000 notes. Now Indian Stock Market is filled up with multiple news and events. Government has banned Rs.500 and Rs.1000 notes effective yesterday night. This would sharply impact Real Estate and many other sectors and would be very negative for Indian Stock Market in short term, though positive for the economy for long term to eradicate black money. Today, trends for US Presidential Elections would be disclosed that would also affect Indian Stock Market. The Best strategy is to buy both call and put options in the market as Clinton’s win may force market positive whereas local news of banning Rs.500 and Rs.1000 notes would force market on the negative side. It would be interesting to note the final take of the market. The market bias is on the negative side and any positive rally would generate shorting opportunity.
FIIs were net buyers of Rs.86.66 crores whereas DIIs were net buyers of Rs.294.06 crores in cash market for last trading session. Nifty would see strong support at 8400-8360-8315-8280-8250 whereas strong resistance would be seen at 8600-8620-8636-8650 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 Results To Be Disclosed Today: Apollo Tyres, Bosch Ltd, Capital First, Cipla, Edelweiss Financial Services, Eveready Industries, FDC, Godrej Properties, Honeywell Automation, Indian Bank, JK Tyre, Karnataka Bank, Lupin, NCC, Oracle Financial Services Software, Orient Cement, Oriental Bank Of Commerce, Pidilite Industries, Polaris Consulting, Power Finance Corporation, Ramco Systems, REC, Ramco Cements and UCO Bank.

NSE Nifty: (8544) The support for the Nifty is 8400-8360-8315-8280-8250 and the resistance to the up move is at 8600-8620-8636-8650 levels.

NSE BankNifty: (19501) The support for BankNifty is at 19180-19060-18950-18825 and the resistance to the up move is at 19580-19665-19724-19800-20000 levels.

BSE Sensex: (27591) The support for the Sensex is at 27311-27190-27060 and the resistance to the up move is at 27640-27720-27800-28000 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