Market In Negative Zone, Go Short At Every Positive Movement
Last Trading Session: Indian Stock Market opened flat with negative bias as predicted by EquityPandit. EquityPandit also predicted that BankNifty has entered into negative zone and further downfall would be seen in the market. EquityPandit also predicted that Nifty would enter into negative zone once it closes below 10086 levels and traders should close all long positions and initiate fresh short positions as further downfall is expected and exactly same happened. Indian Stock Market moved sharply negative and breached psychological level of 10000 mark to for Nifty. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market to open flat. Technically, Indian Stock Market, including Nifty, BankNifty and Sensex has entered into negative zone. Market may see some short covering but every positive movement would be an opportunity for traders to go short in the market as upmove is capped with may resistances. North Korea concerns would still weigh on Stock Markets cross the globe and investors would remain cautious for now before taking any long positions in the market. Market would see high volatility due to F&O Expiry week. Now, traders can go short at every positive movement until Nifty holds below 10105 levels and downfall is open upto 9875 levels for Nifty. Closing below 9875 would force market to see further downfall till 9700 levels for Nifty.
FIIs were net sellers of Rs.1241.73 crores whereas DIIs were net buyers of Rs.521.17 crores in cash market for last trading session. Nifty would see strong support at 9948-9920-9890-9879 whereas strong resistance would be seen at 10011-10036-10088-10105 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
Stocks In F&O Ban Period: BEML, DHFL, DLF, HDIL, IBREALEST, ICIL, INDIACEM, INFIBEAM, JSWENERGY, RCOM and WOCKPHARMA.
NSE Nifty: (9965) The support for the Nifty is 9948-9920-9890-9879 and the resistance to the up move is at 10011-10036-10088-10105 levels.
NSE BankNifty: (24369) The support for BankNifty is at 24280-24234-24170-24066 and the resistance to the up move is at 24460-24535-24625-24720 levels.
BSE Sensex: (31922) The support for the Sensex is at 31880-31718-31660-31540 and the resistance to the up move is at 32090-32110-32180-32240 levels.
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