Further Profit Booking To Be Seen, Initiate Sort If Nifty Closes Below 10166 And BankNifty Below 21128

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the market is a little stretched but the market is still bullish. Indian Stock Market moved sharply positive but saw strong resistance at EquityPandit’s predicted resistance at 10545 levels for Nifty. Indian Stock Market saw a sharp downfall from there and breached all the support levels and fell down sharply. Finally, Indian Stock Market closed the gap negative for the day.

Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in the positive zone. Market would enter into a negative zone once it closes below 10166 levels for Nifty and 21128 levels for BankNifty, which may likely happen today. Once the market closes below these levels then we would see a sharp downfall in the market. Negative Q1 numbers starting next week and shift in major funds from Equity to Debts by big fund houses like pension funds, etc after a sharp upmove in the last three months is still a worry for the market. We may see some sharp downfall in days to come if the market manages to close below 21128 levels for BankNifty and 10166 levels for Nifty.

This is the Best Time To Invest In 12 Multibagger Stocks discovered by Equitypandit that would create huge wealth for Investors. Grab This Report at https://equitypandit.com/covid-multibagger/

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1766.90 crores whereas DIIs were net sellers of Rs.1524.90 crores in the cash market for the last trading session. Nifty would see strong support at 10270-10235-10165-10120 whereas strong resistance would be seen at 10396-10458-10505-10545 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: Apollo Hostpitals, Ashok Leyland, Bank Of India, CCIL, Endurance Technologies, Engineers India, Galaxy Surfactants, Hindstan Aeronautics, IDFC, Indian Overseas Bank, JB Chemicals & Pharmaceuticals, Somany Ceramics, Star Ceramics, TTk Prestige, Varroc Engineering.

NSE Nifty: (10305) The support for the Nifty 10270-10235-10165-10120 and the resistance to the up move is at 10396-10458-10505-10545.

NSE BankNifty: (21427) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21715-21862-22000-22385 levels.

BSE Sensex: (34869) The support for the Sensex 34695-34540-34365-34037 and the resistance to the up move is at 35065-35270-35480-35670  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