Market Still in Negative Zone, Go Short at Every Positive Movement
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that some short covering rally (Positive Rally) would be seen but Indian Stock Market, including Nifty, BankNifty and Sensex has entered into negative zone and traders should go short at every positive movement in the market and exactly same happened. Indian Stock Market opened positive but were not able to hold higher levels and fell down sharply. Traders, who followed EquityPandit’s advice to go short at every positive movement in the market might have earned huge profits for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Some positive reaction is not ruled out but it would be capped and the traders should continue short-selling in the market at every positive rally. Market would consolidate in a rangebound region but overall market is negative and trades should be on the sell side for now. FIIs were net sellers of Rs.352.42 crores whereas DIIs were net buyers of Rs.13.19 crores in last trading session. Nifty would see strong support at 7765-7730-7715-7700 whereas strong resistance would be seen at 7850-7888-7926-7980 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: (7787) The support for the Nifty is 7765-7730-7715-7700 and the resistance to the up move is at 7850-7888-7926-7980 levels.
NSE BankNifty: (16543) The support for BankNifty is at 16475-16380-16255-16200 and the resistance to the up move is at 16640-16700-16780-16940 levels.
BSE Sensex: (25580) The support for the Sensex is at 25510-25445-25365 and the resistance to the up move is at 25790-25885-25936-26016 levels.
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