EquityPandit was the first Indian Research Company to suggest shorting and initiate short sells in the market for its clientele on March 13, 2015. Since then, we have been advicing traders to go short in any condition.
Traders, who followed EquityPandit advice to go short in Nifty and BankNifty might have earned huge profits in last 10 days.
Nifty has now filled up its previous gap which it created on January 15, 2015. Technically, analysis would still remain same and Indian Stock Market is still in negative trend but now, some short covering (positive movement) can’t be ruled out at this point of time.
Nifty should not close below 8280 levels by the end of April Expiry else we would not see levels of 8700 or 9000 again in this year as market would see a big downfall. So levels of 8280 would be monthly closing important levels for April 2015.
Nifty may see intraday trades below those levels but the month F&O closing should not be below those levels else we may see huge downfall in Indian Stock Market.
FIIs were net sellers of Rs.521.23 crores whereas DIIs were net buyers of Rs.687.09 crores on Thursday, March 26, 2015.
Nifty would see strong support at 8325-8265-8236 whereas strong resistance would be seen at 8430-8470-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.