Market To See sharp downfall And Would Remain Under Pressure Until Poll Results

Last Trading Session: Indian Stock Market opened gap positive exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market is still in negative zone but would see short covering rally and exactly same happened. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 10705 for Nifty like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market would open gap negative. Technically, Nifty is still in negative zone whereas BankNifty has entered into positive zone. Nifty would enter into positive zone only if it closes above 10762 levels on spot basis. Now market would see sharp downfall and would remain under pressure until State Election results get disclosed on Tuesday, December 11, 2018. Market would see sideways movement until actual results are out as exit polls have given mixed signals. Overall, market would see sharp profit booking for now.

Read Exit Poll Highlights: Congress Gives Tough Fight To BJP

FIIs were net sellers of Rs.817.40 crores whereas DIIs were net buyers of Rs.242.56 crores in cash market for last trading session. Nifty would see strong support at 10630-10598-10580-10550-10500 whereas strong resistance would be seen 10705-10735-10774-10820 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: NIL.

NSE Nifty: (10694) The support for the Nifty is 10630-10598-10580-10550-10500 and the resistance to the up move is at 10705-10735-10774-10820 levels.

NSE BankNifty: (26594) The support for BankNifty is at 26440-26365-26225-26190-26148 and the resistance to the up move is at 26660-26764-26840-26950 levels.

BSE Sensex: (35673) The support for the Sensex is at 35585-35540-35500-35380-35270-35110 and the resistance to the up move is at 35775-35818-35880-35970 levels.

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