Market To Remain Sideways, Go Short At Every Positive Movement
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market would remain rangebound due to lack of volumes but traders should go short at every positive movement and exactly same happened. Indian Stock Market opened negative and gradually saw downwards movement as per EquityPandit’s predictions. Market remained rangebound with negatively biased as per EquityPandit’s predictions. Traders, who followed EquityPandit’s advice might have earned decent profits even in the rangebound market. Finally, Indian Stock Market closed negative just above EquityPandit’s predicted support levels of 18255 for BankNifty and 8100 levels for Nifty like a dot.
Today: Indian Stock Market would open flat. Nifty is still in negive zone and BankNifty would also enter into negative zone once it closes below 18255 levels. Market would remain rangebound due to lack of volumes for the rest of December 2016. Fresh movement and trend would be seen only in January 2017. For now, traders can short at every positive movement as market would see some downward movement. Market would be considered negative until Nifty closes above 8196 levels.
FIIs were net sellers of Rs.535.77 crores whereas DIIs were net buyers of Rs.556.36 crores in cash market for last trading session. Nifty would see strong support at 8097-8077-8050-8000 whereas strong resistance would be seen at 8180-8200-8230-8265-8280 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: (8104) The support for the Nifty is 8097-8077-8050-8000 and the resistance to the up move is at 8180-8200-8230-8265-8280 levels.
NSE BankNifty: (18257) The support for BankNifty is at 18240-18188-18060-18000-17940 and the resistance to the up move is at 18320-18490-18588-18690 levels.
BSE Sensex: (26375) The support for the Sensex is at 26340-26164-26060-25950 and the resistance to the up move is at 26505-26600-26670-26733 levels.
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