Nifty To See Big Downfall If Closed Below 7900 Levels, Hold Short Positions
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative. EquityPandit predicted that Indian Stock Market is still in negative zone. EquityPandit also predicted that traders should hold short positions unitl Nifty holds 8150 levels and exactly same happened. Indian Stock Market opened negative and saw sharp downfall as predicted by EquityPandit. BankNifty saw lows right at EquityPandit’s predicted support levels of 17840 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open negative. Indian Stock Market is still in negative zone. 7920 would be make or break levels for Nifty. Closing below 7920-7900 would confirm a big head and shoulder pattern and Nifty could see a sharp downfall in that case. So, Traders should hold short positions as of now with strict closing stoploss of 8079 levels. Nifty, if closes below 7900 levels than it could see the next targets of 7800-7600 levels in days to come.
FIIs were net sellers of Rs.614.40 crores whereas DIIs were net buyers of Rs.319.79 crores in cash market for last trading session. Nifty would see strong support at 7920-7897-7800-7777-7645 whereas strong resistance would be seen at 7985-8005-8079-8100-8150 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: (7979) The support for the Nifty is 8050-8000-7920-7897-7800-7777-7645 and the resistance to the up move is at 7985-8005-8079-8100-8150 levels.
NSE BankNifty: (17890) The support for BankNifty is at 17740-17660-17547-17470 and the resistance to the up move is at 18000-18052-18139-18220 levels.
BSE Sensex: (25980) The support for the Sensex is at 25877-25760-25624-25540 and the resistance to the up move is at 26000-26060-26180-26270 levels.
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