Continue Short position in the market until Nifty breaches 7800 levels by closing.
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative with 30 points for Nifty. EquityPandit predicted that Indian Stock Market is in negative zone and traders should go short in the market and exactly same happened. Indian Stock Market moved sharply negative. Nifty saw lows right near EquityPandit’s predicted support levels of 7680. BankNifty also saw lows right at EquityPandit’s predicted support levels of 16780 like a dot. Traders, who followed EquityPandit’s advice to go short might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open negative. Technically, Market is still in negative zone and further downfall can be seen. Technically, analysis would remain same. If Market holds in negative zone for next few days then we may see levels of 16200 for BankNifty and 7500-7600 for Nifty. But if Market again entered into positive zone, then we may see sharp positive rally upto levels of 18000-18500 for BankNifty and 8200-8300 for Nifty. This would happen only if GST is supposed to be passed in Rajya Sabha which looks difficult at this point of time. For now, market is in negative trend and traders should go short at every positive rally in the market. FIIs were net sellers of Rs.518.46 crores whereas DIIs were net buyers of Rs.590.32 crores in last trading session. Nifty would see strong support at 7680-7665-7650-7600 whereas strong resistance would be seen at 7770-7825-7860-7900 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: (7702) The support for the Nifty is 7680-7665-7650-7600 and the resistance to the up move is at 7770-7825-7860-7900 levels.
NSE BankNifty: (16801) The support for BankNifty is at 16780-16660-16580-16435 and the resistance to the up move is at 16980-17095-17220-17380 levels.
BSE Sensex: (25310) The support for the Sensex is at 25220-25110-25000-24850 and the resistance to the up move is at 25540-25675-25770-25930 levels.
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