Indian Stock Market would open flat with positive bias.
Indian Stock Market is in negative trend and traders can go for short selling at every up move in the market. IIP and Inflations numbers were positive and hence some short covering may be seen but overall market is negative and a shorting opporutnity.
Today is the last session for the Monsoon Parliament sessions and GST doesn’t look to pass today and hence would be postponed to winter session. Indian Stock Market would fell down sharply due to this.
Traders can hold short in BankNifty on every positive rally for higher profits. Some short covering would definitely be seen in the market but every positive movement would be an opportunity for traders to go for short-selling in the market.
FIIs were net sellers of Rs.1855.02 crores whereas DIIs were net buyers of Rs.1223.8 crores in last trading session.
Nifty would see strong support at 8320-8286-8226-8195 whereas strong resistance would be seen at 8380-8433-8450-8505 levels.
Important Results To Be Declared Today: ABGSHIP, AJANTPHARM, AMRUTANJAN, CLARIS, DLF, EROSMEDIA, ESSARPORTS, GMRINFRA, GVKPOWER, ICRA, IOC, IRB, JUBLFOOD, KAVERISEED, LANCOINFRA, MMTC, NBCC, ONGC, PAGEIND, SHREERENUKA, SYMPHONY, TATAPOWER and UNITECH.
NSE Nifty: (8349) The support for the Nifty is 8320-8286-8226-8195 and the resistance to the up move is at 8380-8433-8450-8505 levels.
NSE BankNifty: (18060) The support for BankNifty is at 17820-17750-17565 and the resistance to the up move is at 18320-18450-18500 levels.
BSE Sensex: (27512) The support for the Sensex is at 27416-27350-27200-27146 and the resistance to the up move is at 27610-27720-27800-27885 levels.