Consolidation Continues, Sharp Downfall If Nifty Closes Below 9000, Long Only Above 9170

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that market would see positive movement but traders should go long only once Nifty closes above 9170 and exactly same happened. EquityPandit also predicted that 9000 would be a strong support level for Nifty. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted reversal levels of 9170. Market was not able to sustain at higher levels and fell down sharply. Nifty saw lows right at EquityPandit’s predicted support levels of 9000 like a dot. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market is still in a negative zone. Market would enter into positive zone once it closes above 9170 for Nifty and 18251 for BankNifty. Traders should go long only if market closes above these levels. As stated earlier 9000 is a strong support for Nifty and closing below these levels would force market to see 8600-8500 levels for Nifty.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.4716.13 crores whereas DIIs were net buyers of Rs.2841.09 crores in the cash market for the last trading session. Nifty would see strong support at 9000-8980-8900-8821 whereas strong resistance would be seen at 9085-9127-9156-9204 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Aditya Birla Fashion & Retail, Dabur India, Future Retail, Heritage Foods, KPIT Technologies, Quess Corp, Sun Phamraceuticals, Tata Investment Corporation, Tube Investments of India, Ujjivan Financial Services and Vaibhav Global.

NSE Nifty: (9029)  The support for the Nifty is 9000-8980-8900-8821 and the resistance to the up move is at 9085-9127-9156-9204 levels.

NSE BankNifty: (17440) The support for BankNifty is 17275-17035-16900-16670 and the resistance to the up move is 17665-17870-18075-18390 levels.

BSE Sensex: (30609) The support for the Sensex is 30460-30280-30115-30035 and the resistance to the up move is at 31067-31210-31390-31611 levels.

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