Further Downfall To Be Seen, Nifty To Drift Towards 10143-10100, Hold Short Positions
Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in negative zone. EquityPandit also predicted that If Nifty breaches levels of 10215 then it would test nearest support of 10180 and exactly same happened. Indian Stock Market moved positive but saw highs right near EquityPandit’s predicted resistance levels of 10252 like a dot. Market fell down sharply from there and achieved EquityPandit’s predicted target of 10180 like a dot. Finally, Indian Stock Market closed gap negative for the day. Sensex closed right above EquityPandit’s predicted support levels of 32940 like a dot.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone. Bears are still fully controlling the market. Traders can continue to hold short positions in the market. Market would enter into positive zone only if it closes above 10301 for Nifty and 25560 for BankNifty. Current structure of the market shows that further downfall would be seen and Next target for Nifty is set to 10143-10090-10000 levels. Traders should continue to hold short positions in the Market for EquityPandit suggested targets.
FIIs were net buyers of Rs.2576.98 crores whereas DIIs were net sellers of Rs.1.30 crores in cash market for last trading session. Nifty would see strong support at 10180-10143-10100-10080 whereas strong resistance would be seen at 10252-10283-10369-10386 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Stocks In F&O Ban Period: DHFL, HDIL, IBREALEST, INDIACEM, INFIBEAM, JISLJALEQS, JSWENERGY, JPASSOCIAT, JUSTDIAL and KSCL.
Corporate Earnings To Be Disclosed Today: CARE Ratings, Somany Ceramics and Wonderla Holidays.
NSE Nifty: (10187) The support for the Nifty is 10180-10143-10100-10080 and the resistance to the up move is at 10252-10283-10369-10386 levels.
NSE BankNifty: (25285) The support for BankNifty is at 25238-25165-25119-24948 and the resistance to the up move is at 25400-25470-25560-25695 levels.
BSE Sensex: (32942) The support for the Sensex is at 32940-32800-32670-32600 and the resistance to the up move is at 33060-33118-33180-33240 levels.
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