Market In Positive Trend Until Nifty Holds Above 10446 On Closing Basis

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that market would see sharp downfall and traders should go short if Nifty closes below 10446. Market saw some downfall but took strong support at EquityPandit’s predicted support levels of 10438 for Nifty like a dot and rebounded from there, contrary to the signals. Finally, Indian Stock Market moved sharply positive from its support and managed to close gap positive for the day.

Today: Indian Stock Market would open flat. Technically, analysis would remain same and Indian Stock Market is still in positive zone. Market would enter into negative zone once it closes below 10446 for Nifty and 25341 for BankNifty. Traders can initiate fresh short position if market closes below these levels. Close above 10618 would induce further buying into the market and market would see sharp breakout in that case. Traders can hold long positions for now with strict stoploss below 10445 for Nifty spot levels on closing basis.

FIIs were net sellers of Rs.494.95 crores whereas DIIs were net buyers of Rs.335.78 crores in cash market for last trading session. Nifty would see strong support at 10500-10438-10400-10380 whereas strong resistance would be seen 10632-10662-10705-10765 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 Quarterly Results To Be Declared Today: Apollo Hospitals, Astral Poly Technik, Central Bank O f India, Coffee Day Enterprises, Dhanuka Agritech, FDC, Finolex Cables, Future Retail, GE Power India, GMR Infra, Gujarat Fluorochemicals, HDIL, IDBI, India Tourism Development Corporation, Indian Hotels, Infibeam Avenues, Ipca Laboratories, JK Lakshmi Cement, Kaveri Seed, Linde India, M&M, Mangalore Refinery and Petrochemicals, Max Financial, Motherson Sumi System, NBCC, NHPC, Omaxe, Page Industries, PC Jeweller, Pfizer, PNC Infratech, Rain Industries, Rajesh Exports, Reliance Infrastructure, Repco Home Finance, Sadbhav Engineering, Suven Life Sciences, Suzlon Energy, Thermax, Time Technoplast, Ujjivan Financial Services, United Breweries and VIP Industries.

Stocks In F&O Ban Period: ADANIPOWER and JETAIRWAYS.

NSE Nifty: (10583) The support for the Nifty is 10500-10438-10400-10380 and the resistance to the up move is at 10632-10662-10705-10765 levels.

NSE BankNifty: (25769) The support for BankNifty is 25680-25580-25500-25450-25400 and the resistance to the up move is at 25862-25940-26075-26206 levels.

BSE Sensex: (35144) The support for the Sensex is at 35070-35000-34970-34850 and the resistance to the up move is at 35380-35440-35585-35645 levels.

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