Market To Consolidate, Go Short At Rally Until Nifty Holds Below 9170 By Closing
Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. equityPandit predicted that market would see sharp bounce today but overall market condition is bearish and hence traders can wait for market to see a sharp positive reaction and can short near EquityPandit’s predicted resistance levels and exactly same happened. Indian Stock Market moved sharply positive but was not able to hold higher levels as predicted by EquityPandit and finally, fell down sharply. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed marginally positive for the day.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone and now market would continue to consolidate in a range. Market would enter into positive zone once it closes above 9170 for Nifty and 18567 for BankNifty and until then market would remain rangebound and traders can go short at every positive rally in the market near EquityPandit’s predicted resistance levels with closing stoploss of our reversal levels.
Check the Trend Of Major Indices and Stocks
FIIs were net sellers of Rs.1328.31 crores whereas DIIs were net buyers of Rs.1659.74 crores in cash market for last trading session. Nifty would see strong support at 8800-8748-8665-8500 whereas strong resistance would be seen at 8950-9054-9127-9200 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: Ajanta Pharma, Bajaj Auto, Chennai Petroleum, Dr. Reddys Laboratories, GHCL, Grindwell Norton, JK Lakshmi Cement, JSW Energy, Jubilant Foodworks, Kalpataru Power Transmission, Mahindra Logistics, Strides Pharma Science and Ultratech Cement.
NSE Nifty: (8879) The support for the Nifty is 8800-8748-8665-8500 and the resistance to the up move is at 8950-9054-9127-9200 levels.
NSE BankNifty: (17486) The support for BankNifty is 17245-17035-16900-16670 and the resistance to the up move is 17870-18075-18390-18532 levels.
BSE Sensex: (30196) The support for the Sensex is 30035-29825-29606-29395 and the resistance to the up move is at 30362-30490-30710-31125 levels.
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