Breaching Support of 10013-9994 Would Force Nifty To See Sharp Downfall
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market is still in negative zone. EquityPandit predicted that Nifty has formed Doji Candlestick pattern but traders can hold short positions until Nifty closes above 10150 and exactly same happened. Indian Stock Market moved sharply negative once it breached 10065 levels for Nifty as per EquityPandit’s predictions. Finally, Indian Stock Market closed gap negative for the day and achieved EquityPandit’s predicted targets of 10050 for Nifty.
Today: Indian Stock Market would open flat for the day. Technically, Indian Stock Market is still in negative zone. Now Market is near its major support levels of 10012-9994 and their is chance of some bounce from here but breaching this support would force market to see a sharp breakdown. Nifty would see reversal only if it closes above 10156 but until then traders can continue to hold short positions in the market. If market has to recover then this is the time else we would see a sharp downfall till 9850 in days to come. So hold short with strict stoploss above 10156 for Nifty on closing basis.
FIIs were net sellers of Rs.1217.92 crores whereas DIIs were net buyers of Rs.995.11 crores in cash market for last trading session. Nifty would see strong support at 10013-9992-9978-9923-9908 whereas strong resistance would be seen at 10100-10156-10194 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: JISLJALEQS.
NSE Nifty: (10044) The support for the Nifty is 10013-9992-9978-9923-9908 and the resistance to the up move is at 10100-10156-10194 levels.
NSE BankNifty: (24852) The support for BankNifty is at 24800-24778-24632-24570 and the resistance to the up move is at 24990-25078-25157-25200 levels.
BSE Sensex: (32597) The support for the Sensex is at 32500-32380-32318 and the resistance to the up move is at 32700-32760-32880 levels.
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