Market Ready For A Big Move, Hold Long Until Nifty Closes Below 8714

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that traders can hold long positions until market holds 8714 levels for Nifty and 20078 levels for BankNifty and exactly same happened. Nifty moved positive and saw highs right at EquityPandit’s predicted resistance levels of 8830 like a dot. Finally, Indian Stock Market closed flat with positive bias for the day.

Today: Indian Stock Market would open flat. Technically, Analysis would still remain same. Indian Stock Market is still in positive zone. Market would see reversal only if it closes below 8714 spot levels for Nifty and 20078 levels for BankNifty. Until then every downfall would be an opportunity for traders to go long in the market. Market has been consolidating in a small range and closing above 8830 would force Nifty to see strong breakout from the range. Traders can close all long positions and initiate short positions only if Nifty closes below 8714 levels and BankNifty closes below 20078 levels on spot basis. Once Market closes below these levels, we would see sharp breakdown in the market. Few large corporate giants like Tata Motors, Sunpharma and Vedanta Ltd would disclose their results today and would affect market direction for the day.

FIIs were net buyers of Rs.306.74 crores whereas DIIs were net sellers of Rs.171.70 crores in cash market for last trading session. Nifty would see strong support at 8740-8700-8688-8665 whereas strong resistance would be seen at 8830-8850-8900-8970 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

Important Results To Be Disclosed Today: Adani Enterprises, Adani Ports, Aditya Birla Nuvo, Amtek Auto, Apollo Hospitals, Cox & Kings, DLF, Finolex Cables, Fortis Healthcare, Gayatri Projects, Godrej Industries, Greaves Cotton, HFCL, HDIL, Jain Irrigation, Jindal Steel & Power, Kalpataru Power, KRBL, Kwality, MTNL, MOIL, Natco Pharma, PC Jeweller, Prism Cement, Rolta India, REC, Siti Networks, SpiceJet, Sun Pharma, Tata Motors, Tata Motors DVR, Texmaco Rail, Thomas Cook, Unitech, VIP Industries, Vedanta and Voltas.

NSE Nifty: (8805) The support for the Nifty is 8740-8700-8688-8665 and the resistance to the up move is at 8830-8850-8900-8970 levels.

NSE BankNifty: (20252) The support for BankNifty is at 20165-20130-20000-19920 and the resistance to the up move is at 20380-20576-20610-20780 levels.

BSE Sensex: (28352) The support for the Sensex is at 28250-28183-28110-28000 and the resistance to the up move is at 28500-28660-28780-28888 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services