Market To See Sharp Positive Rally, Hold Long Positions, RIL Results Today

  • Stock Market Analysis

Last Trading Session: Indian Stock Market opened positive for the day as predicted by EquityPandit. EquityPandit predicted that market is still in positive zone and traders should buy on every dip in the market and hold long positions for now and exactly same happened. Indian Stock Market moved sharply positive and managed to breach initial resistance of 10550 as predicted by EquityPandit. 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 positive. Technically, Indian Stock Market is still in positive zone. EquityPandit already predicted near 10300 that market would see a V-shaped recovery from here and traders can accumulate blue chip stocks. Market is still in recovery mode and today also we would see sharp positive rally in the market. Traders should continue to hold long positions for now. Rally would extend till 10680-10750-10845 levels for Nifty in days to come. Indian corporate giant Reliance Industries Ltd (NS: RELI ). would disclose its results today and would affect Indian Stock Market for the day.

FIIs were net sellers of Rs.1165.63 crores whereas DIIs were net buyers of Rs.1059.44 crores in cash market for last trading session. Nifty would see strong support at 10550-10500-10476-10439 whereas strong resistance would be seen 10680-10705-10780 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: ACC (NS: ACC ), Cyient, DCB Bank, Havells India (NS: HVEL ), Mindtree, NIIT Technologies (NS: NITT ) and Reliance Industries Ltd.

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

NSE Nifty: (10585) The support for the Nifty is 10550-10500-10476-10439 and the resistance to the up move is at 10680-10705-10780 levels.

NSE BankNifty: (25590) The support for BankNifty is 25450-25400-25318-25245-25050 and the resistance to the up move is at 25735-25862-26025-26170 levels.

BSE Sensex : (35162) 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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