Continue Shorts In The Market Until Nifty Breaches 7685 Levels By Closing
Last Trading Session: Indian Stock Market opened flat with positive biased for the day. EquityPandit predicted that Indian Stock Market is in negative trend and traders should go short at every positive rally, until Nifty breaches levels of 7710 by closing and exactly same happened. Indian Stock Market opened positive but were not able to sustain positive movement and fell down sharply. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Sensex closed just above EquityPandit’s predicted support levels of 24680 levels. BankNifty also managed to close just above EquityPandit’s predicted support levels of 15500 levels. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat for the day. Technically, Indian Stock Market is still in negative zone. Every positive movement would be an opportunity for traders to go short in the market. Nifty if breaches levels of 7500 then next targets would come around 7416 levels. 7400 would act as strong support levels for Nifty, which if breached, we can see levels of 7250 in that case for Nifty. Next target for BankNifty is around 15250-15200 levels, which would act as strong support zone for BankNifty, breaching which market can see a further sharp breakdown upto 14500 levels for BankNifty. 7640-7685 would act as strong resistance levels for Nifty, breaching which by closing, Nifty would see sharp positive rally with a big breakout. BankNifty would reverse the trend if it closes above 15895 levels. For now, traders should holding short positions as suggested by EquityPandit day before yesterday, with strict closing stoploss of 7685 for Nifty and 15895 for BankNifty. FIIs were net sellers of Rs.294.72 crores whereas DIIs were net sellers of Rs.16.06 crores in last trading session. Nifty would see strong support at 7515-7485-7454-7416 whereas strong resistance would be seen at 7585-7620-7663-7700 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: (7546) The support for the Nifty is 7515-7485-7454-7416 and the resistance to the up move is at 7585-7620-7663-7700 levels.
NSE BankNifty: (15531) The support for BankNifty is at 15500-15365-15200 and the resistance to the up move is at 15605-15803-15956-16020 levels.
BSE Sensex: (24685) The support for the Sensex is at 24550-24488-24380 and the resistance to the up move is at 24805-24915-24988-25060 levels.
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