Last Trading Session: Indian Stock Market opened gap negative. EquityPandit predicted that market is in negative zone and same happened. Traders who followed EquityPandit’s technical signal of short in Nifty and Bank Nifty might have earned huge profits in last couple of days. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in negative zone for now. Terror attack that held in Paris on Friday would keep global economy under pressure and we would see further sell-off in the market. Technically, Nifty has developed a doji candlestick pattern and hence some short covering can’t be ruled out but overall market is still in negative trend and tradres should continue with their short positions. Nifty if breaches levels of 7730 by closing, then it would see further breakdown. FIIs were net sellers of Rs.746.70 crores whereas DIIs were net buyers of Rs.70.89 crores in last trading session. Nifty would see strong support at 7730-7680-7650-7540 whereas strong resistance would be seen at 7775-7805-7850-7880 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Click Here to Check the Trend Of Major Indices and Stocks
NSE Nifty: (7762) The support for the Nifty is 7730-7680-7650-7540 and the resistance to the up move is at 7775-7805-7850-7880 levels.
NSE BankNifty: (16933) The support for BankNifty is at 16875-16750-16640-16435 and the resistance to the up move is at 17060-17240-17480-17570 levels.
BSE Sensex: (25611) The support for the Sensex is at 25500-25380-25285-25110 and the resistance to the up move is at 25725-25870-26000 levels.
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