Market To See Positive Reaction But Go Short At Every Positive Rally
Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market would remain rangebound until Nifty breaks 10933-11147 range. EquityPandit also predicted that once Nifty breaches any of these levels, then traders can trade in the similar direction for huge profits and exactly same happened. Indian Stock Market breached EquityPandit’s predicted reversal levels of 10933 for Nifty, from where it saw a sharp breakdown as predicted. Traders, who follows 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 positive. Technically, BankNifty was already in negative zone and yesterday, Nifty also entered into negative zone. Though market would see a Doji or a Spinner kind of candlestick today after a sharp downfall yesterday but overall market is bearish for now and every positive movement would be an opportunity for traders to go short in the market. Market may consolidate or see some short covering rally (Positive rally) today but traders should go short at every rally for now. BankNifty has also seen a breakdown from Symmetrical Triangle type of pattern, that suggest further bearish trend to emerge in next few days.
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FIIs were net sellers of Rs.2016.20 crores whereas DIIs were net buyers of Rs.1251.35 crores in cash market for last trading session. Nifty would see strong support at 10730-10685-10640-10600 whereas strong resistance would be seen 10830-10880-10920-10975 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: NIL.
NSE Nifty: (10798) The support for the Nifty is 10730-10685-10640-10600 and the resistance to the up move is at 10830-10880-10920-10975 levels.
NSE BankNifty: (26824) The support for BankNifty is 26720-26600-26500-26440 and the resistance to the up move is at 26880-26960-27035-27103-27205 levels.
BSE Sensex: (36563) The support for the Sensex is at 36518-36422-36320-36240-36100 and the resistance to the up move is at 36700-36780-36880-36946 levels.
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