Indian Stock Market would open flat. Technically, Analysis would still remain same.
Indian Stock Market is still into very short term positive trend and we may see further short covering in expectation of RBI rate cut. Now the breakout or breakdown from current region would be led by upcoming news of US FED decision, RBI Rate Cut, etc.
For now, traders should continue their long positions. Market would still consolidate within rangebound region until Thursday when US Fed would shower some light on Interest rates.
FIIs were first time buyers in the month of September 2015. FIIs were net buyers of Rs.58.75 crores whereas DIIs were net buyers of Rs.183.90 crores in last trading session.
Nifty would see strong support at 7800-7750-7665 whereas strong resistance would be seen at 7910-7930-7962-8091 levels.
NSE Nifty: (7872) The support for the Nifty is 7800-7750-7665 and the resistance to the up move is at 7910-7930-7962-8091 levels.
NSE BankNifty: (16912) The support for BankNifty is at 17680-16500-16300-16200-15950 and the resistance to the up move is at 17060-17172-17269-17380 levels.
BSE Sensex: (25856) The support for the Sensex is at 25671-25500-25395 and the resistance to the up move is at 26011-26150-26302 levels.