Market Entered Into Negative Zone, Go Short At Every Rally Until Nifty Holds Below 11361
Last Trading Session: Indian Stock Market opened negative exactly as per EquityPandit’s predictions. EquityPandit predicted that profit bookng would be seen in the market and traders can initiate short positions if market closes below 11275 levels for Nifty and 27476 levels for BankNifty and exactly same happened. Indian Stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 11230 for Nifty like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat with positive bias. Technically, Indian Stock Market including Nifty, BankNifty and Sensex have entered into negative zone. Now market is in bearish trend and traders should continue to hold short positions until it closes above 11361 levels for Nifty 27687 levels for BankNifty. Market would see some positive movement after sharp downfall yesterday but every positive movement would be an opportunity to go short into the market until it closes above EquityPandit’s predicted reversal levels. Overall, market is in short term bearish trend and the trade is to go short in the market. Next logical target for Nifty is at 11185-11125 on the downside.
FIIs were net sellers of Rs.639.87 crores whereas DIIs were net sellers of Rs.340.30 crores in cash market for last trading session. Nifty would see strong support at 11225-11200-11175-11125 whereas strong resistance would be seen 11300-11365-11405 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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Important Q1 results to be disclose today: Bank Of Maharashtra, Berger Paints, Carborundum Universal, CG Power, Entertainment Network, Gujarat Alkalies, Indo Count Industries, KEC International, Laurus Labs, Nestle India, Nilkamal, Shipping Corporation Of India, SJVN, SAIL, Titan Company, VIP Industries and Zydus Wellness.
Stocks In F&O Ban Period: ADANIPOWER.
NSE Nifty: (11245) The support for the Nifty is 11225-11200-11175-11125 and the resistance to the up move is at 11300-11365-11405 levels.
NSE BankNifty: (27356) The support for BankNifty is at 27265-27145-27100-27045 and the resistance to the up move is at 27470-27500-27550-27640 levels.
BSE Sensex: (37165) The support for the Sensex is at 37110-37072-36980-36854 and the resistance to the up move is at 37258-37360-37425-37530 levels.
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