Go Short At Every Positive Rally Until Nifty Holds Below 10271 Spot Levels
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted on last Thursday that traders can initiate fresh short positions if Market trades below 10310 for Nifty or 25660 for BankNifty and exactly same happened. Indian Stock market breached EquityPandit’s predicted reversal levels of 10310 for Nifty and 25660 for BankNifty in initial trade on Thursday and fell down sharply from there. Traders who followed EquityPandit’s suggestion to go short in the market might have earned whopping profits in last 2 trading sessions. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open positive for the day. Technically, Indian Stock Market is still in negative zone. Overall, market is still negative and traders can continue to go short at every positive movement in the market. Investors would remain cautious ahead of RBI Policy meeting on Tuesday and upcoming Gujarat Elections. Now 10271 for Nifty and 25522 for BankNifty spot levels would act as strong resistance for the market and traders can continue to hold short positions until market holds below these levels on closing basis. Next logical target for Nifty is at 10094-10013 in upcoming days if Nifty managed to hold below 10271.
FIIs were net buyers of Rs.306.11 crores whereas DIIs were net buyers of Rs.176.19 crores in cash market for last trading session. Nifty would see strong support at 10094-10050-10013-9992 whereas strong resistance would be seen at 10180-10230-10252-10272 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: NIL.
NSE Nifty: (10122) The support for the Nifty is 10094-10050-10013-9992 and the resistance to the up move is at 10180-10230-10252-10272 levels.
NSE BankNifty: (25192) The support for BankNifty is at 25165-25119-24948-24800 and the resistance to the up move is at 25285-25400-25470-25560 levels.
BSE Sensex: (32833) The support for the Sensex is at 32670-32600-32500-32380 and the resistance to the up move is at 32880-32950-33060-33118 levels.
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