Market Still In Negative Momentum, Continue Short For Now
Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. Indian Stock Market moved higher but saw strong resistance near EquityPandit’s predicted resistance levels of 10785. EquityPandit predicted that Indian Stock Market entered negative zone and traders can go short at every rally in the market and exactly same happened. Indian Stock Market saw sharp downfall as predicted by EquityPandit and saw lows right near EquityPandit’s predicted support levels of 35070 for Sensex and 26000 levels for BankNifty like a dot. Traders, who followed EquityPandit’s advice to go short in the market at every rally, might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone. Market is still in negative momentum and traders can continue to hold short positions in the market until it closes above 10815 for Nifty and 26456 for BankNifty. Overall, market is in negative trend and traders can continue to hold short positions in the market for now.
FIIs were net sellers of Rs.830.94 crores whereas DIIs were net buyers of Rs.428.92 crores in cash market for last trading session. Nifty would see strong support at 10675-10645-10600-100580 whereas strong resistance would be seen 10785-10803-10840-10880 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
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NSE Nifty: (10683) The support for the Nifty is 10675-10645-10600-100580 and the resistance to the up move is at 10785-10803-10840-10880 levels.
NSE BankNifty: (26074) The support for BankNifty is at 26000-25940-25800-25665 and the resistance to the up move is at 26165-26270-26335-26504 levels.
BSE Sensex: (35149) The support for the Sensex is at 35070-35000-34970-35840 and the resistance to the up move is at 35303-35440-35507-35660 levels.
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