Nifty Entered Negative Zone, Go Short At Every Positive Rally Until Nifty Closes Above 8261
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market would open lower and would recover from day lows. EquityPandit also predicted that market would enter into negative zone if it closes below 8170 levels where traders can initiate fresh short positions and exactly same happened. Indian Stock Market opened gap negative and recovered sharply as per EquityPandit’s predictions. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Market saw highs right below EquityPandit’s predicted resistance levels of 8230 levels for Nifty and 26733 levels for Sensex. Finally, Market fell down sharply and closed right above EquityPandit’s predicted support levels of 26500 for Sensex and 8145 levels for Nifty.
Today: Indian Stock Market would open flat. Now, Nifty has entered into negative zone and BankNifty is still in positive zone. BankNifty would enter into negative zone once it closes below 18255 levels. Market may see some short covering but for now, market looks weak and traders can go short at every positive rally in the market. BankNifty would soon enter into negative zone once it closes below 18255 levels and we could see some sharp downfall in the market in days to come. Nifty would be considered sell on every rally until it closes above 8261 levels. Market has consolidated since last 20 days and now we could see sharp movement anytime. There is lesser volumes in the market as Foreign Institutional Investors (FIIs) are in holiday mood.
FIIs were net sellers of Rs.611.97 crores whereas DIIs were net seller of Rs.177.48 crores in cash market for last trading session. Nifty would see strong support at 8100-8077-8050-8000 whereas strong resistance would be seen at 8200-8230-8265-8280-8310 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: (8154) The support for the Nifty is 8100-8077-8050-8000 and the resistance to the up move is at 8200-8230-8265-8280-8310 levels.
NSE BankNifty: (18401) The support for BankNifty is at 18240-18188-18060-18000-17940 and the resistance to the up move is at 18490-18588-18690-18780 levels.
BSE Sensex: (26519) The support for the Sensex is at 26450-26400-26380-26164 and the resistance to the up move is at 26670-26733-26809-26950 levels.
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