Indian Stock Market would open flat. Indian Stock Market is still in positive zone but Yuan fears may force Indian Stock Market to see some profit booking.
Indian Markets are holding key support levels just in expectation of key rate cut. Market will fall down sharply if no rate cut is seen in upcoming days.
Traders should note that Medium-term trend of BankNifty is negative and this can be an alarming situation but for now it is in positive region and traders should not short at this point of time.
FIIs were net sellers of Rs.255.42 crores whereas DIIs were net buyers of Rs.127.5 crores in last trading session.
Nifty would see strong support at 8430-8380-8335 whereas strong resistance would be seen at 8530-8561-8616-8655 levels.
NSE Nifty: (8467) The support for the Nifty is 8430-8380-8335-8286 and the resistance to the up move is at 8531-8561-8616-8655 levels.
NSE BankNifty: (18781) The support for BankNifty is at 18580-18449-18300 and the resistance to the up move is at 18940-19067-19230 levels.
BSE Sensex: (27831) The support for the Sensex is at 27735-27640-27475 and the resistance to the up move is at 28100-28162-28265-28550 levels.