Market To Consolidate Until Nifty Holds Above 9890, L&T And SBI Results Today

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market is bullish until 9890 holds for Nifty and 20400 holds for BankNifty. Market moved sharply positive but was not able to hold the higher levels and fell down sharply. Banking sector saw a sharp hit and finally breached EquityPandit’s predicted reversal levels of 20400 to close below these levels. Finally, Indian Stock Market closed marginally negative for the day but BankNifty closed gap negative for the day.

Today: Indian Stock Market would open flat with positive bias. Technically, Nifty is still in positive zone whereas BankNifty has entered into negative zone. Now, Nifty would enter into negative zone once it closes below 9890 levels whereas BankNifty would enter into positive zone once it closes above 21580 levels. NASDAQ has touched lifetime highs yesterday erasing the Corona Pandemic losses and now it would again see some downfall. For now, Indian Stock market would continue to consolidate until it holds the reversal levels of 9890 for Nifty. If Nifty closes below these levels then we would see sharp downfall in the market. Now market would again be considered bullish only if BankNifty closes above 21580 levels.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.2905.04 crores whereas DIIs were net sellers of Rs.1647.30 crores in the cash market for the last trading session. Nifty would see strong support at 9980-9933-9903-9875-9815 whereas strong resistance would be seen at 10088-10125-10185-10275 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 Capital, Alkem Laboratories, Exide Industries, Gateway Distriparks, Greaves Cotton, Gujarat Gas, HFCL, Infibeam Avenues, Jyothy Labs, L&T, SBI and Timken India Ltd.

NSE Nifty: (10029)  The support for the Nifty is 9980-9933-9903-9875-9815 and the resistance to the up move is at 10088-10125-10185-10275 levels.

NSE BankNifty: (20390) The support for BankNifty is 20275-19730-19935-19800 and the resistance to the up move is 21525-20680-20847-21060 levels.

BSE Sensex: (33981) The support for the Sensex is 33815-33678-33530-33380-33240 and the resistance to the up move is at 34240-34500-34770-34888 levels.

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