Initiate Short Only If Nifty Closes Below 10300, Until Then Go Long At Dips
Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market would see profit booking but go long at dips until Nifty holds 10300 and exactly same happened. Indian Stock Market saw sharp profit booking in the first half of trading session. Nifty saw lows right at EquityPandit’s predicted support levels of 10340 like a dot. Sensex also saw lows right at EquityPandit’s predicted support levels of 33575. Market recovered sharply from day lows in second half trading session. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed flat for the day but BankNifty managed to close gap positive.
Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in positive zone and analysis would remain same. US Dow Jones is under pressure due to fear of China trade war. Overall, market would see sideways movement. Traders can go long at dips until Nifty holds above 10300 on closing basis. Traders can initiate fresh short positions only if Nifty managed to close below 10300 but until then go long at every downfall.
FIIs were net sellers of Rs.258.98 crores whereas DIIs were net sellers of Rs.432.03 crores in cash market for last trading session. Nifty would see strong support at 10340-10300-10211 whereas strong resistance would be seen 10435-10500-10560-10618 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: ANDHRABANK, BALRAMCHIN, BANKINDIA, BEML, DHFL, IDBI, JPASSOCIAT and TV18BRDCST.
NSE Nifty: (10411) The support for the Nifty is 10340-10300-10211 and the resistance to the up move is at 10435-10500-10560-10618 levels.
NSE BankNifty: (24852) The support for BankNifty is at 24618-24536-24465-24400 and the resistance to the up move is at 24880-25027-25120-25226 levels.
BSE Sensex: (33836) The support for the Sensex is at 33745-33665-33575 and the resistance to the up move is at 34000-34078-34110-34240 levels.
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