Market Ready to See New 52 Weeks Low, Hold Short Positions For Now

Last Trading Session: As predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Indian Stock Market would see further downfall today and traders should hold short positions as of now and exactly same happened. Indian Stock Market fell down sharply and traders who followed 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 to open gap negative. Technically, Indian Stock Market is still in negative zone. All Stocks and indices are experiencing support at their last support levels. Once any one of them breaches their last support, big negative momentum would be seen and Nifty and BankNifty would see new 52 weeks low with a sharp breakdown. Traders should continue to hold short positions as of now. Few Large Companies would disclose its Q3 Results today and hence it would decide Indian Stock Market direction for today. FIIs were net sellers of Rs.680.7 crores whereas DIIs were net sellers of Rs.174.14 crores in last trading session. Nifty would see strong support at 7241-7224-7200-7114 whereas strong resistance would be seen at 7324-7388-7420-7475 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Where Nifty is Headed Now? Read It.

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Important Results to be disclosed today: ACC Ltd, Alstom T&D, Abmuja Cements, Bajaj Electricals Ltd, Bank Of Maharashtra, Bata India, Blue Dart, Capital First, Cipla, Engineers India, Finolex Cables, Glaxosmithkline Pharma, India Cements, Indian Overseas Bank, Kalpataru Power Transmission, NBCC, NHPC, Oracle Financial Services, Petronet LNG, REC, Shipping Corporation Of India, Tata Chemicals, Tata Global Beverages and Wonderla Holidays.

NSE Nifty: (7298) The support for the Nifty is 7241-7224-7200-7114 and the resistance to the up move is at 7324-7388-7420-7475 levels.

NSE BankNifty: (14875) The support for BankNifty is at 14825-14700-14621-14500 and the resistance to the up move is at 14990-15200-15380-15520 levels.

BSE Sensex: (24021) The support for the Sensex is at 23950-23840-23729-23600 and the resistance to the up move is at 24112-24290-24435-24495 levels.

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