Breaking News

Market To Consolidate, SBI Result Today

By Abhishek ParakhStock MarketsMay 19, 2017 08:55,-sbi-result-today-200190075
Market To Consolidate, SBI Result Today
By Abhishek Parakh   |  May 19, 2017 08:55
Saved. See Saved Items.
This article has already been saved in your Saved Items

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Indian Stock Market would see sharp correction, so traders can book profits and hold cash in hand and exactly same happened. Indian Stock Market fell down sharply after negative opening and BankNifty saw lows right near EquityPandit’s predicted support levels of 22670. Traders, who followed EquityPandit’s advice might have booked huge profits and might have been saved from this downfall. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, Nifty has now entered into negative zone whereas BankNifty is still in positive zone. BankNifty would enter into negative zone once it closes below 22685 levels on spot basis. Market would see some short covering rally (positive movement) after this sharp downfall but overall market has entered into consolidation mode and would see sideways movement for now. Market would see strong resistance near 9480-9500 levels whereas immediate support would be seen near 9400-9370 levels. Market would consolidate in this range for now. Traders should continue to hold cash in hand until Nifty closes above 9516 levels on closing basis. Once Nifty manages to close above 9516 levels, traders can initiate fresh long positions again. SBI (NS:SBI), Union Bank and Tata Power to disclose its results today and it would affect Indian Stock Market For Today.

FIIs were net sellers of Rs.360.59 crores whereas DIIs were net buyers of Rs.897.96 crores in cash market for last trading session. Nifty would see strong support at 9400-9370 whereas strong resistance would be seen at 9450-9480-9500-9516 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Corporate Results Today: Aarti Industries (NS:ARTI), Abbott India, Dhanuka Agritech, Glaxosmithkline (LON:GSK) Pharma, Grasim Industries (NS:GRAS), HT Media (NS:HTML), IFCI (NS:IFCI), Just Dial (NS:JUST), KEC International (NS:KECL), Kalpataru Power (NS:KAPT), Mahindra Holidays (NS:MAHH), Motherson Sumi, Sintex, SBI, Suzlon Energy, Tata Power, Titagarh Wagons, Union Bank Of India, V-Guard Industries and VRL Logistics.

NSE Nifty: (9429) The support for the Nifty is 9400-9370 and the resistance to the up move is at 9450-9480-9500-9516 levels.

NSE BankNifty: (22699) The support for BankNifty is at 22685-22629-22514-22470 and the resistance to the up move is at 22780-22834-22890-22980 levels.

BSE Sensex: (30435) The support for the Sensex is at 30400-30360-30277-30210 and the resistance to the up move is at 30580-30685-30740-30825 levels.

Market To Consolidate, SBI Result Today

Related Articles

Market To Consolidate, SBI Result Today

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email