Market To Remain Highly Volatile As Supreme Court to Deliver AGR Verdict Today

Last Trading Session: Indian Stock Market opened gap positive exactly as predicted. EquityPandit predicted that Indian Stock Market is still bullish and traders can continue long until Nifty holds above 11528. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 25240 like a dot. Market breached EquityPandit’s reversal levels for the day and saw sharp downfall from there. Finally, Indian Stock Market closed the gap negative for the day.

Market Today: Indian Stock Market would open positive as a reaction to yesterday’s sharp downfall. Technically, Nifty has entered into negative zone but BankNifty is still in positive zone. BankNifty would also enter into the negative zone if it closes below 23703 whereas Nifty would enter again into the positive zone only if it closes above 11704. For now, the market is in indecisive mode. Today, the Supreme Court would deliver a long running Adjusted Gross Revenue (AGR) Verdict at around 11:30 AM (Expected Time). Market would be highly volatile and traders are suggested to hedge every trading position with appropriate options as we may see sharp intraday movement on either side based on the outcome.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1164.32 crores whereas DIIs were net sellers of Rs.809.27 crores in the cash market for the last trading session. Nifty would see strong support at 11300-11260-11230-11180  whereas strong resistance would be seen at 11470-11500-11600-11682 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11388) The support for the Nifty is 11300-11260-11230-11180 and the resistance to the up move is at 11470-11500-11600-11682.

NSE BankNifty: (23754) The support for BankNifty is 23550-23465-23330-23240-23170 and the resistance to the up move is 23880-24075-24270-24440.

BSE Sensex: (38628) The support for the Sensex today is 38500-38340-38265-38227-38100 and the resistance to the up move is at 38747-38800-38950-39075-39240 levels.

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