Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that market would see some short covering rally and 10000 would act as strong support for the market and exactly same happened. Indian Stock Market moved sharply positive led by Banking and Financial Services Stocks and managed to close above EquityPandit’s predicted reversal levels of 10227 for Nifty. Finally, Indian Stock Market closed gap positive for the day.
Today: Indian Stock Market would open negative for the day. Technically, Nifty has entered into positive zone but BankNifty is still in negative zone. BankNifty would enter into positive zone only if it closes above 25009. Once this happens, Indian Stock Market would see sharp positive rally as a whole but until then market would consolidate and may see some profit booking. Traders can wait for BankNifty to close above 25009 and can take long positions home if that happens.
FIIs were net sellers of Rs.2230.79 crores whereas DIIs were net buyers of Rs.2526.90 crores in cash market for last trading session. Nifty would see strong support at 10200-10140-10100-10065-10000 whereas strong resistance would be seen 10305-10380-10451 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Quarterly Results To Be Declared Today: 3M India (NS:TMIN), ABB India (NS:ABB), Bank Of Baroda (NS:BOB), Bank of Maharashtra, BASF India (NS:BASF), Birla Corp, Blue Star (NS:BLUS), Cholamandalam (NS:CHLA) Investment and Finance, CCI, Cummins India (NS:CUMM), Dalmia Bharat, Dena Bank (NS:DENA), EIH (NS:EIHO), Emami (NS:EMAM), Gateway Distriparks, IDFC (NS:IDFC), Info Edge, IRB Infra, JK Tyre, Manpasand Beverages, Motilal Oswal (NS:MOFS) Financial Services, Navin Fluorine, Navkar Corporation, NOCIL, Philips Carbon Black, Pidilite Industries (NS:PIDI), Prestige Estates (NS:PREG), Redington India, Symphony, Take Solutions, Tata Global Beverages (NS:TAGL), Team Lease Services, Tech Mahindra (NS:TEML), The Ramco Cements (NS:TRCE), Torrent Power and Unichem Laboratories.
Stocks In F&O Ban Period: ADANIPOWER.
NSE Nifty: (10251) The support for the Nifty is 10200-10140-10100-10065-10000 and the resistance to the up move is at 10305-10380-10451 levels.
NSE BankNifty: (24960) The support for BankNifty is 24780-24618-24536-24465 and the resistance to the up move is at 25075-25202-25265-25340-25500 levels.
BSE Sensex: (34067) The support for the Sensex is at 33830-33745-33665-33575 and the resistance to the up move is at 34165-34240-34325-34528 levels.