Market Still In Negative Trend Until BankNifty Closes Above 26558

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market is in negative zone and would enter into positive zone if BankNifty positive zone only if it closes above 26558 but until then market would consolidate in a range. Market saw highs right near EquityPandit’s predicted resistance levels of 10803 for Nifty and fell down sharply from there. Nifty saw lows right at EquityPandit’s predicted support levels of 10722 like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in negative zone. Market would continue to see further downfall if BankNifty continue to trade below 26558. Overall market is still in negative trend and traders should go short at every positive movement in the market until it closes above 10824 for Nifty and 26558 for BankNifty.

FIIs were net buyers of Rs.1126.75 crores whereas DIIs were net buyers of Rs.663.57 crores in cash market for last trading session. Nifty would see strong support at 10722-10700-10675-10645 whereas strong resistance would be seen 10803-10824-10850-10880 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: CGPOWER, DHFL, INFIBEAM and JPASSOCIAT.

NSE Nifty: (10741) The support for the Nifty is 10722-10700-10675-10645 and the resistance to the up move is at 10803-10824-10850-10880 levels.

NSE BankNifty: (26497) The support for BankNifty is at 26420-26320-26180-26100 and the resistance to the up move is at 26558-26660-26715-26800 levels.

BSE Sensex: (35432) 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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