Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative with 150+ points for Nifty and 300+ points for Sensex. EquityPandit also predicted that market would see further sharp downfall with atleast 400-600 points for BankNifty and suggested traders to go short in market and exactly same happened. Indian Stock Market cracked down with panic on the street breaching all the supports. EquityPandit predicted this breakdown in advance and suggested traders to go short in the market from August 19, 2015 at 18800 levels for BankNifty and since then BankNifty has fallen almost 2100 points. EP-BankNifty Package subscribers are still short in BankNifty with 1600 points profits till now. Finally, Indian Stock Market closed gap negative for third straight day exactly as per EquityPandit’s predictions.
Today: Indian Stock Market would open gap positive. Some sharp short covering can’t be ruled out after 3 days sharp fall but traders should short at every positive movement in the market. Indian Stock Market is still in negative zone and further downfall is intact. Investors should hold cash at this point of time. Long positions should not be initiated until the first sign of strength is seen in the market. Technically, few opening gaps has been seen in last 3 days and in ideal situation, market or any stock fills up the gap in some days hence some short covering could be seen. FIIs were net sellers of whooping Rs.5275.40 crores whereas DIIs were net buyers of Rs.4097.83 crores in last trading session. Nifty would see strong support at 7725-7630-7576-7500 whereas strong resistance would be seen at 7960-8005-8060-8105 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (7809) The support for the Nifty is 7725-7630-7576-7500 and the resistance to the up move is at 7960-8005-8060-8105 levels.
NSE BankNifty: (16812) The support for BankNifty is at 16560-16300-16157-15980 and the resistance to the up move is at 16970-17280-17390-17520 levels.
BSE Sensex: (25742) The support for the Sensex is at 25526-25232-25000-24892 and the resistance to the up move is at 26000-26380-26560-26730 levels.
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