Indian Stock Market Enters Into Negative Zone, Go Short At Every Positive Movement
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market would see some profit booking and traders should close all long positions and initiate fresh short positions if Market breaches 12035 for Nifty and 31714 for BankNifty and exactly same happened. Indian Stock Market moved sharply negative as predicted by EquityPandit. BankNifty saw lows right at EquityPandit’s predicted support levels of 31500 like a dot. Finally, Indian Stock Market closed gap negative for the day as predicted.
Today: Indian Stock Market would open negative. Indian Stock Market including Nifty, BankNifty and Sensex have entered into negative zone. Now traders should hold short positions or go short at every positive movement in the market. Market would remain bearish until it holds below 12117 for Nifty and 32059 for BankNifty. No long positions should be taken until market closes above these levels.
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FIIs were net sellers of Rs.1131.12 crores whereas DIIs were net buyers of Rs.1717.96 crores in cash market for last trading session. Nifty would see strong support at 11940-11880-11835 whereas strong resistance would be seen at 12035-12070-12120-12150 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
NSE Nifty: (11994) The support for the Nifty is 11940-11880-11835 and the resistance to the up move is at 12035-12070-12120-12150 levels.
NSE BankNifty: (31613) The support for BankNifty is 31500-31380-31340-31270 and the resistance to the up move is 31750-31800-31880-31940 levels.
BSE Sensex: (40675) The support for the Sensex is 40600-40540-40440-40380 and the resistance to the up move is at 40800-40880-40995-41035 levels.
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