Market Would React To The Attack On Saudi Oil Plant, Profit Booking Would Be Seen

Market Would React To The Attack On Saudi Oil Plant, Profit Booking Would Be Seen

Abhishek Parakh  | Sep 16, 2019 08:29

Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that Indian Stock Market is still bullish and traders should hold long positions for now or buy more at dips and exactly same happened. Indian Stock Market moved sharply positive and finally, managed to close gap positive for the day. Nifty closed right at EquityPandit's predicted resistance levels of 11078 like a dot.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone. Nifty saw highs right at the neckline of the Inverse Head and Shoulder Pattern. Nifty needs to breach those levels with high volumes to confirm the breakout. Market can see sharp profit booking if it is not able to breach the neckline with volumes. Crude prices would jump after drone attack on Saudi oil plant and would also affect Indian Stock Market. Indian market would also remain very volatile. Traders should trade cautiously. Traders can book profits in long positions and could enter again either lower levels or once Nifty breaches the Neckline resistance as mentioned in the charts below.

Nifty:

NIFTY Prediction - EquityPandit

BankNifty:

BANKNIFTY Prediction -EquityPandit

FIIs were net sellers of Rs.405.45 crores whereas DIIs were net buyers of Rs.209.56 crores in cash market for last trading session. Nifty would see strong support at 11024-11000-10980-10947 whereas strong resistance would be seen at 11139-11175-11200-11215 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (11076) The support for the Nifty is 11024-11000-10980-10947 and the resistance to the up move is at 11139-11175-11200-11215 levels.

NSE BankNifty: (28099) The support for BankNifty is 27960-27840-27760 and the resistance to the up move is 28180-28275-28380-28540 levels.

BSE Sensex: (37385) The support for the Sensex is 37270-37165-37110-37072-36980 and the resistance to the up move is at 37425-37530-37585-37660 levels.

Original Post

Abhishek Parakh

Related Articles

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Bibek DUTTA
Bibek DUTTA

Abhishek Parakh of Equity Pandit Right ?   ... (Read More)

Sep 18, 2019 10:47 GMT· Reply
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (Canada) English (Australia) English (South Africa) English (Philippines) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+