Short Covering Expected But Market Still In Negative Zone

Last Trading Session: Indian Stock Market opened flat with negative bias exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market confirmed negative trend for now and traders can go short at every positive movement in the market and exactly same happened. Indian Stock Market saw sharp downfall as predicted by EquityPandit and achieved EquityPandit’s predicted targets of 10600 for Nifty. Finally, Indian Stock Market closed gap negative for the day. Nifty closed right at EquityPandit’s predicted support at 10590 like a dot.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in negative zone and traders should continue to hold short positions for now. If Nifty manages to hold below 10600 then we would soon see levels of 10500-10450 in upcoming days. Traders can continue to hold short positions until market holds below 10707 for Nifty and 26596 for BankNifty on closing basis.

FIIs were net sellers of Rs.951.51 crores whereas DIIs were net buyers of Rs.442.64 crores in cash market for last trading session. Nifty would see strong support at 10550-10495-10420 whereas strong resistance would be seen 10635-10680-10705-10735 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: (10589) The support for the Nifty is 10550-10495-10420 and the resistance to the up move is at 10635-10680-10705-10735 levels.

NSE BankNifty: (26325) The support for BankNifty is at 26180-26100-26078 and the resistance to the up move is at 26380-26450-26518-26580 levels.

BSE Sensex: (35038) The support for the Sensex is at 34940-34820-34740-34610 and the resistance to the up move is at 35075-35185-35303 levels.

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