Huge Volatility To Be Seen In The Market, Sell At Every Positive Rally
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market would see a sharp correction and traders should watch levels of 8553 on closing basis to take any long positions home and exactly same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 8280 like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat. Nifty is already in negative zone but BankNifty is in positive zone. Market is expected to open flat to negative and then would see a positive reaction but would see pressure at higher levels and fall again. Overall, huge volatility would be seen in the market for this week. So decide your trade accordingly. Market is safe until BankNifty holds 19605 levels by closing. Once it closes below those levels, market would see a sharp breakdown. Market is expected to fall further and next target for Nifty is 8100 levels breaching which Nifty would see levels of 8000. Some short covering (Positive reaction) may be seen from EquityPandit’s predicted support levels but traders can go short in Nifty at every positive movement. BankNifty would enter into negative zone once it closes below 19605 levels. Huge selling is been witnessed at every positive movement which suggest that traders and brokers are exiting huge quantity at every positive movement. So trade for now is to go short at every positive movement until both Nifty and BankNifty enters in positive zone. Also Read: Nifty Analysis from Technical Charts and Fundamental Effect of Currency Decision Taken By Government.
FIIs were net sellers of Rs.1493.27 crores whereas DIIs were net buyers of Rs.64.72 crores in cash market for last trading session. Nifty would see strong support at 8220-8180-8100-8000 whereas strong resistance would be seen at 8345-8400-8455-8500 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 To Be Disclosed Today: AIA Engineering, Balrampur Chini, Container Corporation Of India, Elgi Equipments, GAIL, Gujarat Flurochemicals, HPCL, Shree Renuka Sugars, Tata Global Beverages, Triveni Turbine, Vardhman Textiles and Welspun India.
NSE Nifty: (8296) The support for the Nifty is 8220-8180-8100-8000 and the resistance to the up move is at 8345-8400-8455-8500 levels.
NSE BankNifty: (19739) The support for BankNifty is at 19605-19500-19300-19110 and the resistance to the up move is at 19880-20180-20380 levels.
BSE Sensex: (26819) The support for the Sensex is at 226720-26540-26300 and the resistance to the up move is at 26940-27030-27195 levels.
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