Hold Short Until Nifty Closes Above 8150 Levels
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that some bounce would be seen but traders should go short at every positive rally in the market. Indian Stock Market moved sharply positive but was not able to sustain higher levels and fell down sharply from there. Nifty saw lows right near EquityPandit’s predicted support levels 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. Sensex closed just above EquityPandit’s predicted support levels of 26240 like a dot.
Today: Indian Stock Market would open negative. Indian Stock Market is still in negative zone. Now, Nifty would see strong resistance at 8150 levels. Some bounce back would be seen near 8050-8000 levels but traders should go short at every positive rally until Nifty closes above 8150 levels. EquityPandit was among the first few to suggest shorting in the market and since than we are experiencing the gradual downfall everyday in the market. Overall market movement would be gradual but the trend is negative until Nifty closes above 8150 and BankNifty closes above 18335 levels. Traders should initiate long positions only if Nifty closes above 8150 levels.
FIIs were net sellers of Rs.1178.08 crores whereas DIIs were net buyers of Rs.1057.96 crores in cash market for last trading session. Nifty would see strong support at 8050-8000-7950-7920 whereas strong resistance would be seen at 8105-8150-8180-8200 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: (8061) The support for the Nifty is 8050-8000-7950-7920 and the resistance to the up move is at 8105-8150-8180-8200 levels.
NSE BankNifty: (18084) The support for BankNifty is at 18000-17940-17840-17740-17547 and the resistance to the up move is at 18240-18188-18320-18490 levels.
BSE Sensex: (26242) The support for the Sensex is at 26164-26060-25950 and the resistance to the up move is at 26440-26505-26600-26670-26733 levels.
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