Indian Stock Market would open gap positive with 50-100 points positive for Nifty.
Today is F&O Expiry and large swings would be seen in the market. So get ready for roller coaster rides.
Some sharp short covering (Positive rally) would be seen in the market due to expiry of August contracts.Today market is supposed to see sharp positive trend and if levels of 17465 is breached for Bank Nifty on positive side then market would enter into positive zone and can touch the levels of 18500 in upcoming days but till then Market is still in negative zone.
Traders can trade long if BankNifty breaches levels of 17465 by closing. Breaching levels of 7667 for Nifty and 16670 for BankNifty would force market to see sharp downfall and levels of 7500 for Nifty and 16000 for BankNifty could be seen in days to come.
FIIs are continuous sellers in the market and it is not a good sign for Indian Stock Market. FIIs were net sellers of whooping Rs.2345.77 crores whereas DIIs were net buyers of Rs.1881.08 crores in last trading session.
Nifty would see strong support at 7725-7630-7576-7500 whereas strong resistance would be seen at 7960-8005-8060-8200 levels.
NSE Nifty: (7791) The support for the Nifty is 7725-7630-7576-7500 and the resistance to the up move is at 7960-8005-8060-8200 levels.
NSE BankNifty: (16918) The support for BankNifty is at 16670-16560-16300-16157 and the resistance to the up move is at 17390-17520-17660-17870 levels.
BSE Sensex: (25714) The support for the Sensex is at 25526-25232-25000 and the resistance to the up move is at 26380-26560-26730-26880 levels.