Market In Negative Zone, All Eyes On 10000 Levels For Nifty
Last Trading Session: Indian Stock Market opened positive for the day. On Friday, EquityPandit predicted that traders can close all long positions and initiate fresh short positions if Nifty closes below 10300 and exactly same happened. Nifty managed to close below 10300 on Friday and since then we have seen sharp downfall in the market. Traders who followed Equitypandit’s advice to initiate fresh short positions might have earned whopping profits. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is in negative zone. Traders can continue to go short at every positive rally in the market. Now, market is near its strong support. We are heading towards strong psychological support of 10000 for Nifty, closing below which market would see sharp downfall. There are strong chances of a bounce back from those support but Nifty would see strong resistance at 10300. Overall, for now market is in bear mode and traders should go short at every positive movement in the market.
FIIs were net buyers of Rs.292.23 crores whereas DIIs were net sellers of Rs.191.52 crores in cash market for last trading session. Nifty would see strong support at 10047-10020-9987-9965 whereas strong resistance would be seen 10115-10138-10150-10200 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: BEML, DHFL, HDIL, IDBI, JPASSOCIAT, RCOM and SAIL.
NSE Nifty: (10094) The support for the Nifty is 10047-10020-9987-9965 and the resistance to the up move is at 10115-10138-10150-10200 levels.
NSE BankNifty: (24245) The support for BankNifty is at 24130-24075-24000-23947 and the resistance to the up move is at 24350-24422-24462 levels.
BSE Sensex: (32923) The support for the Sensex is at 32800-32670-32600 and the resistance to the up move is at 33060-33118-33180-33240 levels.
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