Market Still Negative, Hold Short Positions As Of Now
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market would see some bounce but traders should consider that positive rally as an opportunity to sell into the market. EquityPandit predicted that traders should go for short sell in the market at every positive rally and exactly same happened. Indian Stock Market moved positive and saw strong resistance near EquityPandit’s predicted resistance levels of 8775 for Nifty and 28420 for Sensex. Indian Stock Market fell sharply from there as per EquityPandit’s predictions and saw lows right at EquityPandit’s predicted support levels of 8688 for Nifty and 19484 for BankNifty like a dot. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market is still in negative zone. Now market is near strong support of 8688 levels. Closing below those levels would force market to see a sharp downfall. Traders should still hold short positions as of now. This downfall is a correction to the positive rally and would not last long but traders should hold the short positions until the reversal is seen. If levels of 8688 is breached for Nifty then Next target would be 8620-8580-8500 for Nifty and 19200-19000 for BankNifty. For now, trade is to go short at every positive rally.
FIIs were net sellers of Rs.155.76 crores whereas DIIs were net buyers of Rs.90.67 crores in cash market for last trading session. Nifty would see strong support at 8688-8665-8620-8600-8570 whereas strong resistance would be seen at 8741-8775-8800-8830 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: (8706) The support for the Nifty is 8688-8665-8620-8600-8570 and the resistance to the up move is at 8741-8775-8800-8830 levels.
NSE BankNifty: (19519) The support for BankNifty is at 19484-19400-19299-19166 and the resistance to the up move is at 19660-19808-19965-20060 levels.
BSE Sensex: (28224) The support for the Sensex is at 28183-28110-27950-27840 and the resistance to the up move is at 28372-28420-28500-28660-28780 levels.
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