Market To Open Positive But Traders Should Short At Positive Rally
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Market would open gap negative and If RBI announces 25 bps rate cut then we would see sharp downfall in Indian Stock Market and exactly same happened. RBI announced rate cut of 25 bps and after some flickering, market fell down sharply with more than 150 points for Nifty and 500 points for Sensex. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Nifty closed just above EquityPandit’s predicted support levels of 7600 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open gap positive for the day on the account of short-covering. Technically, Indian Stock Market, including Nifty, Sensex and BankNifty has entered into negative zone. Some positive reaction may be seen against yesterday’s sharp downfall but now the trade is to go short at every positive rally in the market. Traders should short Nifty and BankNifty near EquityPandit’s resistance levels. FIIs were net sellers of Rs.800.79 crores whereas DIIs were net buyers of Rs.55.85 crores in last trading session. Nifty would see strong support at 7600-7564-7500-7479 whereas strong resistance would be seen at 7700-7730-7780-7855levels. 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: (7603) The support for the Nifty is 7600-7564-7500-7479 and the resistance to the up move is at 7700-7730-7780-7855 levels.
NSE BankNifty: (15695) The support for BankNifty is at 15600-15500-15365-15200 and the resistance to the up move is at 15803-15956-16020-16156 levels.
BSE Sensex: (24884) The support for the Sensex is at 24834-24680-24550 and the resistance to the up move is at 24988-25060-25120-25280levels.
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