Black Friday For Markets, Sharp Downfall To Be Seen, SBI Result Today

  • Stock Market Analysis

Last Trading Session: Indian Stock Market opened flat with negative bias. EquityPandit predicted that Nifty would see downfall till 9838-9792 levels if it doesn’t hold 9892 levels and exactly same happened. Market breached EquityPandit’s predicted levels of 9892 for Nifty in early trade and fell down sharply to achieve EquityPandit’s predicted targets of 9792 for Nifty. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open gap negative. Technically, Indian Stock Market is still in negative zone. Geopolitical tensions still weighs on global stock markets and hence further downfall cannot be ruled out. Nifty would see immediate support at 9770, breaching which Nifty can see levels of 9737-9700-9670, which would act as consecutive support levels. Downfall is open for now until Nifty holds below 9922 on closing basis. Market would enter into positive zone only if it closes above 9922 levels for Nifty and 24401 for BankNifty. Until then every positive movement would be an opportunity for traders to go short in the market. EquityPandit has warned traders and investors for this downfall and suggested to go short since Nifty was at 10024 levels. Investors and Traders should avoid long positions for now as downfall is intact. SBI (NS: SBI ), Sunpharma and Bank of Baroda to disclose its quarterly results today and it would affect Indian Stock Market for the day.

FIIs were net sellers of Rs.1171.21 crores whereas DIIs were net buyers of Rs.821.72 crores in cash market for last trading session. Nifty would see strong support at 9770-9737-9700-9670 whereas strong resistance would be seen at 9885-9900-9922 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Allahabad Bank (NS: ALBK ), Avanti Feeds, Bank Of Baroda (NS: BOB ), BEML (NS: BEML ), BPCL, Blue Star (NS: BLUS ), Bosch (NS: BOSH ), Cadila Healthcare (NS: CADI ), CESC (NS: CESC ), Cipla (NS: CIPL ), Corporation Bank (NS: CRBK ), Cox & Kings (NS: COKI ), eClerx Services (NS: ECLE ), Eros International, Finolex Industries (NS: FINX ), GMR Infra, Godrej Industries (NS: GODI ), Gujarat Fluorochemicals (NS: GFLR ), GSPL, Hindalco Industries (NS: HALC ), HDIL, HSIL (NS: HSNT ), Indraprastha Gas, Ipca Laboratories (NS: IPCA ), JSW Energy (NS: JSWE ), Kalpataru Power (NS: KAPT ) Transmission, Kwality, Marksans Pharma, Max india, Oil India (NS: OILI ), Omaxe, Oracle Financial Services Software (NS: ORCL ), Oriental Bank Of Commerce (NS: ORBC ), PNB Housing Finance, Praj Industries (NS: PRAJ ), Rural Electrification Corporation (NS: RURL ), Siti Networks, SBI, SAIL, Strides Shasun, Sun Pharmaceuticals, Sun TV, Suzlon Energy, TV Today, Tata Global Beverages (NS: TAGL ), TTK Prestige (NS: TTKL ), TVS Motor, Uflex (NS: UFLX ) and Vardhman Textiles (NS: VART ).

NSE Nifty: (9820) The support for the Nifty is 9770-9737-9700-9670 and the resistance to the up move is at 9885-9900-9922 levels.

NSE BankNifty: (24217) The support for BankNifty is at 24170-24066-23940-23850 and the resistance to the up move is at 24312-24460-24535 levels.

BSE Sensex : (31531) The support for the Sensex is at 31470-31420-31340-31265 and the resistance to the up move is at 31632-31688-31750-31860 levels.

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