Market Positive for Now, Short If Nifty Closes Below 7850
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Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market is still in positive zone and some profit booking can be seen but traders can hold long positions until Nifty breaches levels of 7850 and exactly same happened. Traders who followed EquityPandit’s advice to hold long positions might have earned huge profits for the day. Nifty saw lows right at EquityPandit’s predicted support levels of 7893 levels. Finally, Indian Stock Market closed positive for the day.
Today: Indian Stock Market would open negative for the day. Now we would see some fresh breakout or breakdown in the market. For now, Nifty and BankNifty are in positive zone and traders should hold long positions until Nifty breaches levels of 7850 or BankNifty breaches levels of 16770. Some profit booking can’t be ruled out but overall market is in positive trend for now. If Nifty managed to stay above 7850 levels then we could see levels of 7980 and 8000 levels soon. FIIs were net buyers of Rs.1123.41 crores whereas DIIs were net sellers of Rs.257.67 crores in last trading session. Nifty would see strong support at 7980-8005-8035 whereas strong resistance would be seen at 7980-8005-8035 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: (7946) The support for the Nifty is 7890-7850-7825-7775 and the resistance to the up move is at 7980-8005-8035 levels.
NSE BankNifty: (16922) The support for BankNifty is at 16840-16750-16650-16560 and the resistance to the up move is at 17015-17111-17230-17305 levels.
BSE Sensex: (26118) The support for the Sensex is at 25950-25850-25688-25540 and the resistance to the up move is at 26185-26250-26431 levels.
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