Market To Consolidate Until Closes Out Of 10616-10850 Range For Nifty, TCS Results Today

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the market is in uptrend until Nifty holds 10606. EquityPandit also advised that if Nifty doesn’t hold 10815 then it would see sharp profit booking and exactly the same happened. Indian Stock Market moved sharply positive but was not able to hold higher levels and breached 10815 forcing market to see a sharp profit booking as predicted by EquityPandit. Market saw lows right near EquityPandit’s predicted support levels of 10685 for Nifty and 36245 for Sensex. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in the positive zone but as predicted the market was over-stretched and saw sharp profit booking in the last trading session. Now if the market manages to close above yesterday’s highs for BankNifty i.e. 23080 levels then we would see a sharp positive rally of another 1000 points for BankNifty. Market is consolidating as of now and will enter into a negative zone once it closes below 10616 for Nifty and 22253 for BankNifty. If the market manages to close below these levels then we would see sharp downfall in the market in the upcoming session. For now, the market would see sideways movement and traders should wait for any of these levels to breach. Until then trade in small quantities.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.994.87 crores whereas DIIs were net sellers of Rs.853.41 crores in the cash market for the last trading session. Nifty would see strong support at 10675-10625-10600-10540  whereas strong resistance would be seen at at 10745-10785-10835-10880 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: Arvind Fashion and TCS.

NSE Nifty: (10706) The support for the Nifty is 10675-10625-10600-10540 and the resistance to the up move is at 10745-10785-10835-10880.

NSE BankNifty: (22585) The support for BankNifty is 22375-22240-22000-21925 and the resistance to the up move is 22745-22850-23035-23170.

BSE Sensex: (36329) The support for the Sensex 36245-36025-35870-35705 and the resistance to the up move is at 36485-36712-36888-37037 levels.

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