Nifty To See Sharp Recovery, But Short Selling Opportunity Again Near 9820-9850 Resistance Levels

Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that market would see Black Friday where a sharp downfall would be seen and exactly same happened. Indian Stock Market saw a sharp downfall as per EquityPandit predictions. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open gap positive. Technically, Indian Stock Market is still in negative zone. Nifty has formed a DOJI candle stick pattern that shows indecisiveness. Some sharp recovery would be seen at this point of time that may take Nifty near to 9800 levels but 9820-9850 is a strong resistance zone for Nifty and 24400-24500 is a strong resistance for BankNifty. So, market would again see correction near these levels and hence these levels would be an opportunity for traders to go short again at these levels. Once Nifty breaches 9685 levels on downside, it would see levels of 9640.

FIIs were net sellers of Rs.1943.86 crores whereas DIIs were net buyers of Rs.2016.84 crores in cash market for last trading session. Nifty would see strong support at 9700-9670-9638 whereas strong resistance would be seen at 9770-9800-9823-9850 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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Important Results To Be Disclosed Today: AIA Engineering, Apollo Hospitals, Bajaj Hindusthan Sugar, Coal India, Future Consumer, Gayatri Projects, Granules India, IDBI Bank, Jain Irrigation, JK Tyre, MTNL, NBCC, Prestige Estates, Rolta india, Sadbhav Engineering, Sonata Software, Suven Life Sciences, Swan Energy, Take Solutions, Tata Power and Unitech.

NSE Nifty: (9711) The support for the Nifty is 9700-9670-9638-9620 and the resistance to the up move is at 9770-9800-9823-9850 levels.

NSE BankNifty: (23986) The support for BankNifty is at 23940-23820-23750-23640 and the resistance to the up move is at 24200-24312-24460-24535 levels.

BSE Sensex: (31214) The support for the Sensex is at 31120-31066-31000-30940 and the resistance to the up move is at 31400-31632-31688 levels.

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