Market To Remain Rangebound Until BankNifty Closes below 18825 Or Nifty Closes Above 9402

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. Equitypandit predicted that market would see sharp rally on stimulus announcement but street would wait for details and exactly same happened. Indian Stock Market moved sharply positive and saw highs near Equitypandit’s predicted resistance levels Finally, market fell down from highs but still managed to close gap positive for the day.

Today: Indian Stock Market would open flat with negative bias. Technically, Nifty is still in negative zone whereas BankNifty has entered into positive zone. Nifty would enter into positive zone once it closes above 9402 whereas BankNifty would enter into negative zone once it closes below 18825 levels. Now market would remain rangebound until both Nifty and BankNifty are in opposite zones. To see a strong trend in positive direction, Nifty would have to enter into positive zone to support BankNifty by closing above 9402 and for strong trend in negative direction, BankNifty would have to enter into negative zone to close below 18825. Traders should wait for either of the two to happen before taking informed decision. Once, any of these situation occurs, traders can take positions in that direction.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.283.43 crores whereas DIIs were net buyers of Rs.232.65 crores in cash market for last trading session. Nifty would see strong support at 9315-9200-9160-9090-9024 whereas strong resistance would be seen at 9405-9540-9601-9665 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: AAVAS Financiers, Biocon, Escorts, Indiabulls Real Estate, Indian Energy Exchange, Mahindra Lifespace Developers, Mannappuram Finance, Oracle Fiancial Services Software, TV Today Network, Tata Consumer Products and Zensar Technologies Ltd.

NSE Nifty: (9384) The support for the Nifty is 9315-9200-9160-9090-9024 and the resistance to the up move is at 9405-9540-9601-9665 levels.

NSE BankNifty: (19635) The support for BankNifty is 19420-19220-18930-18775 and the resistance to the up move is 19770-20000-20356 levels.

BSE Sensex: (32009) The support for the Sensex is 31835-31630-31340-31280 and the resistance to the up move is at 32240-32540-32880 levels.

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