Sharp Bounce Back To Be Seen But Go 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 is still negative and one should go short at every positive rally. EquityPandit also predicted that BankNifty has highest premium and hence it is prone to a big downfall risk with target of 18500 and exactly same happened. Indian Stock Market opened flat and moved positive but was not able to sustain higher levels as per EquityPandit’s predictions. Market saw a free fall and BankNifty fell down around 700 points on intraday basis. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. EquityPandit was first to predict the market breakdown and suggested traders to go short at 19800 levels for BankNifty and 8500 for Nifty. Finally, Indian Stock Market closed gap negative for the day with Nifty closing right above EquityPandit’s predicted support levels of 7927 like a dot.
Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone. We would surely see market bouncing from yesterday’s closing on effect of short covering but still the bounce should be shorted into. Traders should go short at every positive movement. Next target for Nifty would be at 7897-7780 breaching which Nifty would see levels of 7645-7500 levels. BankNifty is still at premium and should fell down very sharply for the targets of 18100-17800 levels. Traders can wait for some short-covering rally and then short BankNifty to gain huge profits. Every positive rally would be an opportunity for traders to go short. The trade for now is to go short at every positive rally. Investors should keep cash in hand for now and wait for the right opportunity to enter into the market.
FIIs were net sellers of Rs.1310.82 crores whereas DIIs were net buyers of Rs.1211.01 crores in cash market for last trading session. Nifty would see strong support at 7897-7800-7777-7645 whereas strong resistance would be seen at 7985-8005-8100-8150-8200 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: Allcargo Logistics, Birla Corporation, IRB Infrastructure, JBF Industries, Larsen & Toubro Ltd and Siti Networks.
NSE Nifty: (7929) The support for the Nifty is 7897-7800-7777-7645 and the resistance to the up move is at 7985-8005-8100-8150-8200 levels.
NSE BankNifty: (18446) The support for BankNifty is at 18225-18140-18045-17800 and the resistance to the up move is at 18595-18690-18780-18888 levels.
BSE Sensex: (25765) The support for the Sensex is at 25624-25540-25430-25380 and the resistance to the up move is at 25870-26000-26060-26180 levels.
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