Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market would see further downfall in days to come. EquityPandit also predicted that some rebounce would be seen but traders should go short at every positive rally in the market and exactly same happened. Indian Stock Market moved sharply negative and saw support right near EquityPandit’s predicted support levels of 8550 levels. Nifty Bank saw lows right at EquityPandit’s predicted support levels of 18533 like a dot. Finally, Indian Stock Market recovered and closed flat for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. We would see further positive bounce but every positive rally would be an opportunity for traders to go short in the Market. Market would see sharp downfall anytime and traders should be in the same direction. Every Positive movement would be temporary as of now and would be considered just a reaction. Sharp downfall has to be seen in the market after some positive reactions. Important Results of Corporate Giants like Cipla (NS:CIPL), Bank Of India,
Hindalco, NMDC (NS:NMDC), SBI and Sun Pharma (NS:SUN) would be disclosed today and would affect further market direction for the day.
FIIs were net buyers of Rs.608.35 crores whereas DIIs were net sellers of Rs.621.65 crores in cash market for last trading session. Nifty 50 would see strong support at 8550-8530-8496-8470 whereas strong resistance would be seen at 8620-8636-8665-8707 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Q1 Results To Be Disclosed Today: Aban Offshore (NS:ABAN), AIA Engineering (NS:AIAE), Allahabad Bank (NS:ALBK), Bajaj Electricals (NS:BJEL), Bank Of India, Bank Of Maharashtra, Bosch Ltd (NS:BOSH), Central Bank Of India, Cipla, Dena Bank (NS:DENA), Divis Laboratories, Glenmark Pharma (NS:GLEN), Hindalco Industries (NS:HALC), Jain Irrigation (NS:JAIR) Systems, Jet Airways (NS:JET), Jindal Saw (NS:JIND), Kalpataru Power (NS:KAPT) Transmission, NCC (NS:NCCL), NHPC (NS:NHPC), NMDC, Oracle Financial Services Software (NS:ORCL), PTC India Financial Services (NS:PTCN), Shree Cement, State Bank Of India (NS:SBI), Sun Pharma and United Breweries (NS:UBBW).
NSE Nifty: (8592) The support for the Nifty is 8550-8530-8496-8470 and the resistance to the up move is at 8620-8636-8665-8707 levels.
NSE BankNifty: (18640) The support for BankNifty is at 18610-18533-18400-18219-18218 and the resistance to the up move is at 18740-18888-19030-19160 levels.
BSE Sensex 30: (27860) The support for the Sensex is at 27700-27635-27540-27380 and the resistance to the up move is at 27950-28018-28071-28218 levels.