Initiate Short If Nifty Closes Below 10622 And BankNifty Below 25991

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. EquityPandit predicted that market is still in positive zone but for now, market would see some profit booking and exactly same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 10645 for Nifty. Finally, Indian Stock Market fell down sharply negative exactly as per EquityPandit’s predictions.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone but market would see further profit booking for now. Market would enter into negative zone if it closes below 10622 for Nifty and 25991 for BankNifty. Traders can initiate fresh short position if market closes below these levels but until then traders can wait for confirmation and hold long position with given stoploss on closing basis.

FIIs were net sellers of Rs.753.17 crores whereas DIIs were net sellers of Rs.44.06 crores in cash market for last trading session. Nifty would see strong support at 10630-10600-10550-10500 whereas strong resistance would be seen 10705-10740-10780-10820 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Check the Trend Of Major Indices and Stocks

Stocks In F&O Ban Period: ADANIENT, ADANIPOWER, DHFL, JETAIRWAYS and PCJEWELLER.

NSE Nifty: (10656) The support for the Nifty is 10630-10600-10550-10500 and the resistance to the up move is at 10705-10740-10780-10820 levels.

NSE BankNifty: (26113) The support for BankNifty is 26078-26000-25930-25800 and the resistance to the up move is at 26270-26340-26380-26438-26518 levels.

BSE Sensex: (35475) The support for the Sensex is at 35325-35260-35200-35130-35070 and the resistance to the up move is at 35585-35660-35738-35888 levels.

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