Continue Short Positions Until Nifty Holds below 10221 On Closing Basis
Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive for the day. EquityPandit predicted that Indian Stock Market is still in negative zone. EquityPandit also predicted that market would open positive but traders can go short at every positive rally and exactly same happened. Indian Stock Market opened positive and saw highs right at EquityPandit’s predicted resistance levels of 10180 for Nifty like a dot. Market saw sharp downfall from there and saw lows right at EquityPandit’s predicted support levels of 10094 like a dot. Traders, who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed flat for the day.
Today: Indian Stock Market would open negative for the day. Technically, Indian Stock Market is still in negative zone. Technically, analysis would remain same. Traders can continue to hold short positions in the market. trading below 10094 would force Nifty to see next target of 10050-10013 levels in upcoming sessions. Market would enter into positive zone only if it closes above 10221 for Nifty and 25388 for BankNifty spot levels but until then every positive rally would be an opportunity for traders to go short in the market. 24900 would act as a make or break level for BankNifty from where it has taken breakout from channel formation. BankNifty, if closes below 24900 spot levels then it would see a sharp downfall that would lead BankNifty towards 24500-24000 levels.
FIIs were net sellers of Rs.333.59 crores whereas DIIs were net buyers of Rs.776.18 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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NSE Nifty: (10128) 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: (25075) The support for BankNifty is at 25000-24948-24800 and the resistance to the up move is at 25285-25400-25470-25560 levels.
BSE Sensex: (32870) 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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