Market To See Further Downfall, Hold Short Positions For Now, SBI Results Today

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market has entered into negative zone and traders should go short at every positive rally in the market and exactly same happened. Market moved positive while opening but fell down sharply exactly to EquityPandit’s predicted support levels of 10270 for Nifty and 33108 for Sensex like a dot. Nifty achieved EquityPandit’s predicted targets of 10275 today and traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market recovered and closed flat for the day.

Today: Indian Stock Market to open negative. Technically, Indian Stock Market is still in negative zone. Traders are still suggested to hold short positions in the market for now. Nifty likely to see further downfall today and in days to come. Next target for Nifty is set to 10240-10180-10143 levels in days to come. Traders should not initiate any long positions until Nifty closes above 10400 levels and every positive rally would be an opportunity for traders to go short in the market.

FIIs were net sellers of Rs.713.75 crores whereas DIIs were net buyers of Rs.231.25 crores in cash market for last trading session. Nifty would see strong support at 10232-10200-10180-10143 whereas strong resistance would be seen at 10352-10386-10400-10440 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, HDIL, IBREALEST, INDIACEM, INFIBEAM, JETAIRWAYS, JISLJALEQS, JSWENERGY and RCOM.

Corporate Earnings To Be Disclosed Today: Allahabad Bank, Ashoka Buildcom, Bank Of India, Bank Of Maharashtra, BEML, BPCL, Bosch Ltd, Dena Bank, DLF, Eveready Industries, FDC, Finolex Industries, Gujarat Flurochemicals, GMDC, Hindustan Copper, HSIL, IL&FS Transportation Network, JB Chemicals & Pharmaceuticals, Jai Corp, Jain Irrigation, M&M, Mcleod Russel, MMTC, Motherson Sumi, MRF, Nestle India, Nilkamal, Oil India, Oracle Financial Services Software, Pfizer, Rattanindia Power, Rolta, Sobha, SBI, Sun TV, Suzlon Energy and Timken India.

NSE Nifty: (10309) The support for the Nifty is 10232-10200-10180-10143 and the resistance to the up move is at 10352-10386-10400-10440 levels.

NSE BankNifty: (25291) The support for BankNifty is at 25165-25065-25019-24945-24778 and the resistance to the up move is at 25300-25380-25515-25670 levels.

BSE Sensex: (33251) The support for the Sensex is at 33155-33108-33012-32940 and the resistance to the up move is at 33280-33400-33451-33500 levels.

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