Market Still Bearish, Continue Short Until Nifty Holds Below 9335
Last Trading Session: Indian Stock Market opened flat with positive bias for the day. Equitypandit predicted that Indian Stock Market would see short covering as a reaction to the downfall but traders should go short at every positive rally in the market and exactly same happened. Indian Stock Market moved sharply positive but was not able to sustain higher levels and fell down sharply to close negative for the day. Sensex saw lows right near EquityPandit’s predicted support levels of 30760. Traders, who followed Equitypandit’s advice might have earned huge profits for the day.
Today: Indian Stock Market would open flat with negative bias. Technically, Nifty is still in negative zone whereas BankNifty is in positive zone and would enter into negative zone once it closes below 18825. BankNifty has just closed at 18834 above EquityPandit’s reversal levels of 18825 and hence closing below these levels would force market to see sharp downfall. As stated since long, traders should go short at every positive movement until Nifty holds below 9335 for Nifty. Once BankNifty closes below 18825 then we would see sharp downfall in the market.
Check the Trend Of Major Indices and Stocks
FIIs were net sellers of Rs.2388.04 crores whereas DIIs were net buyers of Rs.1225.53 crores in cash market for last trading session. Nifty would see strong support at 9090-9024-8980-8900 whereas strong resistance would be seen at 9204-9265-9346-9405 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
Important Results To Be Disclosed Today: Astrazeneca Pharma, Bharti Airtel, Delta Corp, Dr. Lal Pathlabs, Glaxosmithkline Pharma, Maharshtra Scooters and Torrent Pharma.
NSE Nifty: (9137) The support for the Nifty is 9090-9024-8980-8900 and the resistance to the up move is at 9204-9265-9346-9405 levels.
NSE BankNifty: (18834) The support for BankNifty is 18660-18504-18380 and the resistance to the up move is 19170-19380-19516-19770 levels.
BSE Sensex: (31098) The support for the Sensex is 30927-30762-30680-30460 and the resistance to the up move is at 31390-31611-31880-32047 levels.
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