Downside Open Till 9900 For Nifty But Accumulate Blue Chips At Every Downfall
Last Trading Session: Indian Stock Market opened gap negative as predicted for the day. EquityPandit predicted that further downfall till 10260 would be seen if Nifty breaches 10550-10500 zone and exactly same happened. Indian Stock Market fell down sharply and saw lows right at EquityPandit’s predicted targets of 10260 for Nifty like a dot. Traders who followed EquityPandit’s advice 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. Downside is still open for the market. The downfall could extend till 10000-9900 if Nifty is not able to sustain above 10300 for some time. A sharp V-shaped recovery could be seen anytime and hence traders should not take the risk of fresh shorting at this point of time. Those who are holding short positions could continue to hold until Nifty closes above 10500. Traders and investors could start accumulating Blue chip stocks that are available at huge discounts at lowest possible prices for mid term to long term. This could be done by investing part of the money at every downfall from here as recovery would be seen anytime soon. This is the best opportunity for accumulation of the blue-chip stocks.
FIIs were net sellers of Rs.3370.14 crores whereas DIIs were net buyers of Rs.1902.07 crores in cash market for last trading session. Nifty would see strong support at 10260-10140-10065-10000 whereas strong resistance would be seen 10380-10451-10500-10618 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: NIL.
NSE Nifty: (10316) The support for the Nifty is 10260-10140-10065-10000 and the resistance to the up move is at 10380-10451-10500-10618 levels. levels.
NSE BankNifty: (24443) The support for BankNifty is 24202-24082-23840-23760-23600 and the resistance to the up move is at 24560-24670-24832-24900 levels.
BSE Sensex: (34377) The support for the Sensex is at 34228-34110-34070-33899-33750 and the resistance to the up move is at 34500-34610-34666-34770-34850 levels.
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