Go Short If Nifty Closes Below 10775 And Long If BankNifty Closes Above 26681

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. EquityPandit predicted that market would consolidate until BankNifty breaks out of 26700 levels and exactly same happened. Indian Stock Market opened negative and saw further negative movement. Nifty saw lows right at EquityPandit’s predicted support levels of 10775 like a dot. Indian Stock Market saw support at EquityPandit’s predicted support levels and recovered from there and managed to close above 10800 levels for Nifty. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open negative. Technically, Nifty is still in positive zone whereas BankNifty is in negative zone. Analysis would remain same. BankNifty would enter into positive zone only if it closes above 26681 whereas Nifty would enter into negative zone if it closes below 10775. Overall, market is still consolidating and traders should not initiate long positions until BankNifty closes above 26681 levels. If Nifty manages to close below 10775 levels then market would see sharp downfall and traders can initiate short positions in that case.

FIIs were net sellers of Rs.1372.84 crores whereas DIIs were net buyers of Rs.576.19 crores in cash market for last trading session. Nifty would see strong support at 10800-10775-10722-10700 whereas strong resistance would be seen 10835-10880-10906-10975 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 and JUSTDIAL.

NSE Nifty: (10808) The support for the Nifty is 10800-10775-10722-10700 and the resistance to the up move is at 10835-10880-10906-10975 levels.

NSE BankNifty: (26562) The support for BankNifty is at 26518-26320-26280 and the resistance to the up move is at 26681-26715-26800-26890 levels.

BSE Sensex: (35600) The support for the Sensex is at 35500-35480-35380-35260 and the resistance to the up move is at 35660-35750-35880-35970 levels.

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