Market Entered Bearish Zone, Go Short At Every Positive Rally

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that traders can initiate fresh short positions if Nifty closes below 12051 and exactly same happened. Indian Stock Market moved sharply positive but saw highs right near EquityPandit’s predicted resistance levels of 12155 for Nifty. Market was not able to sustain higher levels and fell down sharply to see lows right near EquityPandit’s predicted support levels of 12035 for Nifty and 41035 for Sensex like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market as a whole has entered into negative zone. Now, market would see reversal and would enter into positive zone only if it closes above 12214 for Nifty and 31233 for BankNifty. Market may see some recovery but still it would be considered bearish for now and traders should continue to go short at every positive rally.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.374.06 crores whereas DIIs were net sellers of Rs.154.25 crores in cash market for last trading session. Nifty would see strong support at 12000-11940-11905-11880 whereas strong resistance would be seen at 12065-12105-12150-12188 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (12046) The support for the Nifty is 12000-11940-11905-11880 and the resistance to the up move is at 12065-12105-12150-12188 levels.

NSE BankNifty: (30681) The support for BankNifty is 30635-30550-30445-30335-30227 and the resistance to the up move is 30800-30885-30950-31067 levels.

BSE Sensex: (41056) The support for the Sensex is 41000-40880-40780-40700 and the resistance to the up move is at 41115-41180-41270-41380 levels.

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