Market Bearish For Now And Would See Sharp Downfall, State Election Results Today
Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see sharp downfall and would remain under pressure until Poll Results and exactly same happened. Indian Stock Market saw a sharp downfall as predicted by EquityPandit. 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 gap negative. Technically, Indian Stock Market is in negative zone. Indian Stock Market would see sharp downfall. RBI Governor Urjit Patel resigned and it is a big setback for the economy and questions the Government’s decisions. Indian Stock Market would see sharp downfall today until and unless the Poll results shows a clear win for BJP. Overall, Sentiments are negative and Market is bearish and should see sharp downfall. Traders can continue to hold short positions for now. Election Results that would disclose today can only affect the Indian Stock Market direction else the market would remain bearish.
FIIs were net buyers of Rs.116.22 crores whereas DIIs were net sellers of Rs.145.80 crores in cash market for last trading session. Nifty would see strong support at 10300-10248-10225-10180 whereas strong resistance would be seen 10504-10557-10632-10662 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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NSE Nifty: (10488) The support for the Nifty is 10300-10248-10225-10180-10100 and the resistance to the up move is at 10504-10557-10632-10662 levels.
NSE BankNifty: (26103) The support for BankNifty is at 25930-25800-25660-25500-25380 and the resistance to the up move is at 26270-26340-26380-26438-26518 levels.
BSE Sensex: (34960) The support for the Sensex is at 34740-34610-34500-34300-34120 and the resistance to the up move is at 35185-35240-35303-35460 levels.
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