Market To Consolidate around 8000-8100 levels, Short At Every Positive Rally
Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that traders should short at every positive rally in the market for good profits and exactly same happened. Market opened positive and went down sharply as predicted by EquityPandit. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Nifty made lows and saw strong support right near EquityPandit’s predicted support levels of 8060. Finally, Nifty closed flat with negative bias.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone and analysis would remain same. Now, Market has strong support zone of 8000-7990 levels. Traders should consider 8000-7990 levels as important levels because closing below these levels, it would start acting as strong resistance and Nifty would permanently remain below these levels for long duration. It looks that market would consolidate near these levels and there are higher chances of re-bounce from 8000 levels before breaching those levels. For now, traders should consider shorting at every positive rally in the market. FIIs were net sellers of Rs.113.36 crores whereas DIIs were net sellers of Rs.32.27 crores in cash market for last trading session. Nifty would see strong support at 8060-8005-7991-7959 whereas strong resistance would be seen at 8128-8180-8205-8250 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: (8109) The support for the Nifty is 8060-8005-7991-7959 and the resistance to the up move is at 8128-8180-8205-8250 levels.
NSE BankNifty: (17672) The support for BankNifty is at 17500-17394-17300-17195 and the resistance to the up move is at 17760-17800-18000 levels.
BSE Sensex: (26396) The support for the Sensex is at 26215-26128-26060-25950 and the resistance to the up move is at 26471-26687-26822 levels.
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