Market To Open Negative, Go Long At Dips and Short At Positive Rally
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market would see positive movement and traders, who went long a day before on EquityPandit’s advice at 14000 levels for BankNifty would get good chance to book huge profits and exactly same happened. EquityPandit also predicted that profits should be booked near 7225 levels for Nifty as it would see strong resistance near those levels and exactly same happened. Indian Stock Market opened gap positive and went further positive. Traders who were holding long positions might have earned huge profits for the day. Nifty saw strong resistance near EquityPandit’s predicted resistance levels of 7225 and fell down sharply and made intraday low. Finally, Market recovered by the end of the trading session and closed positive for the day.
Today: Indian Stock Market to open negative for the day. Technically, Indian Stock Market is still in positive zone but overall market sentiment is bearish. US Dow Jones is experiencing strong resistance at 16500 levels. once Dow Jones closes above 16500 levels, we would see some strength in Indian Stock Market. For now, Indian Stock Market would remain rangebound with bearish sentiments and trader is to go long at downfall and go short at positive movement. Nifty would enter into negative zone if it closes below 7010 levels. BankNifty, if closes below 13965 levels, it would enter into negative zone. Until then traders can go long near 14000 levels and short near 14400-14500 levels. FIIs were net buyers of Rs.418.64 crores after a long time whereas DIIs were net buyers of Rs.712.12 crores in last trading session. Nifty would see strong support at 7100-7058-6995-6868 whereas strong resistance would be seen at 7228-7240-7280-7323 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: (7192) The support for the Nifty is 7100-7058-6995-6868 and the resistance to the up move is at 7228-7240-7280-7323 levels.
NSE BankNifty: (14298) The support for BankNifty is at 14120-13969-13800 and the resistance to the up move is at 14322-14504-14588-14700 levels.
BSE Sensex: (23649) The support for the Sensex is at 23450-23312-23200-23020 and the resistance to the up move is at 23692-23759-23938 levels.
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