Continue Short Positions Until Nifty Holds Below 10622

Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that market is still in negative zone but since, Nifty is near its major support of 10495, it would try to bounce back from there and exactly same happened. Nifty saw strong support right near EquityPandit’s predicted support levels of 10495 like a dot. Market recovered sharply from there and saw highs right near EquityPandit’s predicted resistance levels of 25940 levels for BankNifty. Traders who followed EquityPandit’s advice might have earned decent profits for the day. Finally, Indian Stock Market closed marginally positive for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone. Overall, market is still in negative momentum but it is near its strong support zone of 10495-10439 for Nifty, so a bounce back cant be ruled out. But Nifty needs to close above 10622 to enter into positive zone and see reversal. Traders can go long only if Nifty closes above 10622 and until then every positive movement in the market is an opportunity for traders to go short near resistances. The bounce back may be a possibility only because market is near its strong support but overall market is in negative momentum. Once, market breaches its support levels then we could see Nifty moving towards 10300 levels in next few sessions.

FIIs were net sellers of Rs.1651.63 crores whereas DIIs were net buyers of Rs.1496.83 crores in cash market for last trading session. Nifty would see strong support at 10495-10476-10439-10400 whereas strong resistance would be seen 10632-10662-10705 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Stocks In F&O Ban Period: BALRAMCHIN, DHFL, JETAIRWAYS, JUSTDIAL, PCJEWELLER, RCOM and WOCKPHARMA.

Important Companies To Disclose Its Q4 Results Today: Astral Poly Technik, Bajaj Electricals, CESC, eClerx Services, Entertainment Network, Eros International, Finolex Industries, GE T&D India, Godrej Industries, Grasim Industries, IFCI, Indraprastha Gas, Jain Irrigation, Jet Airways, KPIT Technologies, L&T Infotech, Motherson Sumi Systems, Natco Pharma, Omaxe, Repco Home Finance, Shipping Corporation Of India, Tata Motors, Tata Motors-DVR and Ramco Cement.

NSE Nifty: (10537) The support for the Nifty is 10495-10476-10439-10400 and the resistance to the up move is at 10632-10662-10705 levels.

NSE BankNifty: (25778) The support for BankNifty is at 25665-25500-25464 and the resistance to the up move is at 25818-25940-26075-26165 levels.

BSE Sensex: (34651) The support for the Sensex is at 34580-34500-34400-34311 and the resistance to the up move is at 34735-34880-34980-35075 levels.

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