Hold Short Or Go Short At Every Positive Rally Until Nifty Closes Above 10931
Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market would be considered weak until it trades below 10931 and exactly same happened. Nifty saw highs right at EquityPandit’s predicted reversal levels of 10931 like a dot. Market was not able to trade above those levels and fell down sharply. Market saw lows right near EquityPandit’s predicted support levels of 10749 for Nifty and 35950 for Sensex like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone. Traders should continue to hold short positions for now and should go short at every positive movement until market closes above 10931 for Nifty and 27467 for BankNifty. Market is expected to see sharp movement in either side this week and hopefully before Interim Budget that is scheduled on February 01, 2019. Market is bearish as of now and for now, the trade is to go short at every positive rally.
FIIs were net buyers of Rs.689.28 crores whereas DIIs were net sellers of Rs.147.35 crores in cash market for last trading session. Nifty would see strong support at 10749-10700-10675-10645 whereas strong resistance would be seen 10840-10880-10922-10945 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: ADANIENT, JETAIRWAYS, JISLJALEQS.
Important Results To Be Disclosed Today: Bank of India, Canara Bank, CEAT, Century Textiles, Chennai Petroleum, City Union Bank, Escorts, Godrej Properties, KPR Mill, Mahindra Lifespace Developers, Persistent Systems, Piramal Enterprises, RBL Bank, Shoppers Stop, Shriram Transport Finance, Tata Power, TTK Prestige and Wockhardt.
NSE Nifty: (10781) The support for the Nifty is 10749-10700-10675-10645 and the resistance to the up move is at 10840-10880-10922-10945 levels.
NSE BankNifty: (27115) The support for BankNifty is at 27026-26988-26865-26800 and the resistance to the up move is at 27380-27456-27500-27600 levels.
BSE Sensex: (36026) The support for the Sensex is at 35950-35880-35774-35670 and the resistance to the up move is at 36067-36180-36270-36380 levels.
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