Market To See Gap Negative Opening On Ukraine-Russia Fears

Last Trading Session: Indian Stock Market opened gap negative for the day. Indian Stock Market fell down sharply and finally managed to close the gap negative for the day.

Today: Indian Stock Market will open gap negative. Technically, the Indian Stock Market including Nifty, BankNifty and Sensex is still in the positive zone. Markets would remain tense on fears of a Russian attack on Ukraine. Market would enter into the negative zone once it closes below 17263 for Nifty and 38072 for BankNifty. Traders can initiate fresh short positions if markets close below these levels.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.108.53 crores whereas DIIs were net sellers of Rs.696.90 crores in the cash market for the last trading session. Nifty would see strong support at 17270-17215-17140-17075 whereas strong resistance would be seen at 17440-17515-17570-17660 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17375) The support for the Nifty is 17270-17215-17140-17075 and the resistance to the up move is at 17440-17515-17570-17660 levels.

NSE BankNifty: (38517) The support for Bank Nifty is 38215-38075-38025-37885-37715 and the resistance to the up move is 38660-38718-38880-38940 levels.

BSE Sensex: (58153) The support for the Sensex is 57940-57815-57660-57508 and the resistance to the up move is 58385-58540-58660-58740 levels.

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