Traders Should Still Short At Every Positive Rally
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market has entered into negative zone and traders should go short at every positive rally in the market and exactly same happened. Nifty moved flat with positive bias for the day. BankNifty saw strong resistance right at EquityPandit’s predicted resistance levels of 16640 levels. Market was not able to sustain higher levels and fell down sharply exactly as predicted by EquityPandit. Traders who followed EquityPandit’s advice to go short at every positive rally, might have earned whopping profits for the day. Sensex also saw lows right at EquityPandit’s predicted support levels of 25256 levels and recovered from those lows. BankNifty also closed right above EquityPandit’s predicted support levels of 16475. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone. Market may see some short-covering rally but it would capped at 7888 levels for Nifty. Every positive rally would still be considered as an opportunity for traders to go short in the market. Next support for Nifty would be 7695-7675 levels. Nifty if closes below 7715 levels, then we could witness further downfall in the market. Overall, trade is to go short at every positive rally in the market. FIIs were net sellers of Rs.743.86 crores whereas DIIs were net buyers of Rs.597.49 crores in cash market for last trading session. Nifty would see strong support at 7715-7700-7675 whereas strong resistance would be seen at 7816-7830-7865-7888 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Important Results Today: Aban Offshore, Chennai Petroleum, City Union Bank, Dish TV, HSIL, Jyothy Laboratories, Sonata Software, Tata Investment, Tata Power, Torrent Pharma, TTK Prestige, VRL Logistics and Welspun Corp.
NSE Nifty: (7750) The support for the Nifty is 7715-7700-7675 and the resistance to the up move is at 7816-7830-7865-7888 levels.
NSE BankNifty: (16481) The support for BankNifty is at 16377-16260-16188-16011 and the resistance to the up move is at 16640-16780-16940-17000 levels.
BSE Sensex: (25302) The support for the Sensex is at 25256-25110-25012-24950 and the resistance to the up move is at 25437-25572-25660-25790 levels.
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