F&O Expiry Today, Market To Remain Highly Volatile In Very Narrow Region

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that Nifty has entered into positive zone and traders can go long at dips with strict stoploss of 7893 on closing basis and exactly same happened. EquityPandit also predicted that this positive rally would be for very short term and same happened. Indian Stock Market saw sharp positive rally after opening and saw highs right near EquityPandit’s predicted resistance levels of 8105 for Nifty and 18052 for BankNifty. Indian Stock Market was unable to sustain the higher levels above 8100 for Nifty and 18000 levels for BankNifty and fell down sharply. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open negative. Technically, Nifty is still in positive zone but BankNifty is in negative zone for now. Today is F&O Expiry and we would see huge volatility in the market but overall market would remain rangebound. Market would remain around these levels for rest of December 2016 as DIIs are pouring money in the market to maintain the NAVs. DIIs would not let market to fell down sharply before December 31, 2016. Overall market would remain rangebound between 8120 on the positive side and 7900 in the negative zone. Traders can either wait for the direction or buy small quantity on dips in the market.

FIIs were net sellers of Rs.527.06 crores whereas DIIs were net buyers of Rs.824.84 crores in cash market for last trading session. Nifty would see strong support at 7997-7970-7897-7800 whereas strong resistance would be seen at 8053-8079-8105-8154 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (8035) The support for the Nifty is 7997-7970-7897-7800 and the resistance to the up move is at 8053-8079-8105-8154 levels.

NSE BankNifty: (17877) The support for BankNifty is at 17800-17740-17600-17470 and the resistance to the up move is at 18000-18052-18139-18220-18380 levels.

BSE Sensex: (26211) The support for the Sensex is at 26128-26060-25950-25840 and the resistance to the up move is at 26270-26471-26560-26687 levels.

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