Market To See Profit Booking But Traders Can Go Long At Dips, Yes Bank Results Today

Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that Nifty would see sharp breakout and hit record highs. EquityPandit also predicted that BankNifty would see sharp bounce backed by PSU Banks and exactly same happened. Indian Stock market moved sharply positive and hit record highs exactly as per EquityPandit’s predictions. Nifty achieved EquityPandit’s predicted targets of 10300 for Nifty. BankNifty saw a whopping 925 points upmove on intraday basis. Finally, Indian Stock Market closed gap positive for the day. Market closed right below EquityPandit’s predicted resistance levels of 10300 for Nifty and 33060 for Sensex like a dot.

Today: Indian Stock Market to Negative backed with profit booking. Technically, Indian Stock Market has entered into positive zone. Nifty to see some profit booking to fill the gap created by gap opening but traders can go long at dips in the market. Nifty would see support near 10235 levels. Some sharp profit booking is not ruled out at this point of time but overall, market is bullish and traders can go long near EquityPandit’s predicted support levels. Yes Bank to disclose its quarterly results today and would affect Indian Stock Market direction for the day.

FIIs were net buyers of Rs.3582.50 crores whereas DIIs were net sellers of Rs.155.71 crores in cash market for last trading session. Nifty would see strong support at 10235-10200-10180-10120 whereas strong resistance would be seen at 10306-10342-10386-10400 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: DHFL, IBREALEST, INFIBEAM, IRB, JPASSOCIAT,JSWENERGY and RCOM.

Corporate Earnings To Be Disclosed Today: Biocon, Crompton Greaves, Cummins India, Equitas Holdings, GIC Housing Finance, Indiabulls Ventures, Jubilant Foodworks, L&T Finance Holdings, Mphasis, Shoppers Stop, SREI infrastructure Finance, Vijaya Bank, Whirlpool of India and Yes Bank Ltd.

NSE Nifty: (10295) The support for the Nifty is 10235-10200-10180-10120 and the resistance to the up move is at 10306-10342-10386-10400 levels.

NSE BankNifty: (24222) The support for BankNifty is at 24900-24778-24570 and the resistance to the up move is at 25200-25280-25380-25500 levels.

BSE Sensex: (33042) The support for the Sensex is at 32800-32670-32600 and the resistance to the up move is at 33118-33180-33240-33380 levels.

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