Market Enters Into Negative Zone, Go Short At Every Rally In The Market
Last Trading Session: Indian Stock Market opened flat for the day as predicted. EquityPandit predicted that market would see further correction and breaching 12000 levels would induce further selling in the market. EquityPandit also predicted that market would enter into negative zone if it closes below 11877 levels for Nifty and same happened. Indian Stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support of 11830 for Nifty like a dot. Finally, Indian Stock Market closed gap negative for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market, including Nifty, BankNifty and Sensex have entered into negative zone. Now market would remain bearish for now and traders can go short at every positive rally in the market until Nifty holds below 12083. Next logical target for Nifty is 11750-11680-11630 levels in days to come. Overall market is negative and every positive movement would be an opportunity to go short in the market.
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FIIs were net sellers of Rs.1448.99 crores whereas DIIs were net sellers of Rs.650.84 crores in cash market for last trading session. Nifty would see strong support at 11748-11700-11655-11614 whereas strong resistance would be seen 11883-11960-12041-12083 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Stocks In F&O Ban Period: DHFL, IDBI and PCJEWELLER.
NSE Nifty: (11844) The support for the Nifty is 11748-11700-11655-11614 and the resistance to the up move is at 11883-11960-12041-12083 levels.
NSE BankNifty: (30857) The support for BankNifty is at 30700-30622-30560-30340 and the resistance to the up move is at 30980-31045-31145-31200 levels.
BSE Sensex: (39530) The support for the Sensex is at 39375-39240-39110-39035 and the resistance to the up move is at 39645-39707-39815-39880 levels.
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