Further Downfall Till 10260 To Be Seen If Nifty Breaches 10550-10500 Support Zone

Last Trading Session: Indian Stock Market opened gap negative as predicted for the day. EquityPandit predicted that market is in bear grip and Nifty would see a fall of around 300 point for the targets of 10560 and exactly same happened. Indian Stock Market fell down sharply and saw exactly around 300 points downfall for Nifty as predicted by EquityPandit. BankNifty also saw lows right at EquityPandit’s predicted support levels of 24500 like a dot. Traders, who followed EquityPandit’s advice might have generated huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap negative. Technically, Indian Stock Market is still in negative zone. Now Nifty is near its immediate support zone of 10550-10500, breaching which, Nifty would see next support at 10380-10260 levels. Though this correction is deeper but would not last longer and hence medium to long term investors can start investing in bluechip companies that are available at good discounts in small parts at every dip of 250-300 points for Nifty. Short term investors and traders should not go long until market gives some reversal indication.

FIIs were net sellers of Rs.2760.63 crores whereas DIIs were net buyers of Rs.1823.59 crores in cash market for last trading session. Nifty would see strong support at 10550-10500-10416-10380-10260 whereas strong resistance would be seen 10675-10750-10865 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: NIL.

NSE Nifty: (10599) The support for the Nifty is 10550-10500-10416-10380-10260 and the resistance to the up move is at 10675-10750-10865 levels. levels.

NSE BankNifty: (24819) The support for BankNifty is at 24618-24500-24362-24180 and the resistance to the up move is at 25075-25150-25202-25265-25340 levels.

BSE Sensex: (35169) The support for the Sensex is at 35070-35000-34970-34850-34700 and the resistance to the up move is at 35380-35440-35507-35660 levels.

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