Today Would Be Black Friday, Sharp Downfall To Be Seen, 10000 Under Threat For Nifty
Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that Nifty would see positive rally only if it closes above 10226 and until then traders should sell at every positive rally in the market and exactly same happened. Indian Stock Market moved positive but was not able to breach EquityPandit’s predicted levels of 10226 and fell down sharply from there. EquityPandit also predicted that market would see further downfall if Nifty breaches levels of 10132 and exactly same happened. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in negative zone. EquityPandit already predicted in last trading session that if Nifty breaches 10132, we would see sharp downfall in upcoming days and Now, we would see further downfall. Trade tensions escalate across Asian markets and now 10000 level is under threat for Nifty though it is a strong psychological support for the market. Overall, traders can continue to hold short positions until Nifty closes above 10226 levels. Breaching 10000 on closing basis would create more panic selling in the market. Overall, market is in negative zone and long positions should not be initiated until Nifty closes above 10226. Overall, Nifty and BankNifty would see sharp downfall for the day.
FIIs were net buyers of Rs.161.11 crores whereas DIIs were net buyers of Rs.409.89 crores in cash market for last trading session. Nifty would see strong support at 10047-10020-9987-9965 whereas strong resistance would be seen 10138-10150-10200-10226 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: HDIL, IDBI, IFCI, JETAIRWAYS, JINDALSTEL, JPASSOCIAT and RCOM.
NSE Nifty: (10115) The support for the Nifty is 10047-10020-9987-9965-9940 and the resistance to the up move is at 10138-10150-10200-10226 levels.
NSE BankNifty: (24141) The support for BankNifty is at 24000-23947-23800-23640 and the resistance to the up move is at 24245-24350-24422-24462 levels.
BSE Sensex: (33006) The support for the Sensex is at 32914-32800-32670-32500 and the resistance to the up move is at 33168-33240-33345-33420 levels.
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