Market Entered Negative Zone, Go Short At Every Positive Rally

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that market has been consolidating since many days and now we can see a breakdown or breakout. EquityPandit also advised traders to go short in Nifty closes below 8366 levels and exactly same happened. Indian Stock Market moved sharply negative. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market entered negative zone. Some positive reaction may be seen after Friday’s downfall but traders should go short at every positive movement in the market for now. Nifty may see downtrend till 8280 levels where it would cover the gap that was left few days ago. This downtrend is good for the market before Union Budget as it suggests low expectation from Budget. The more the downfall, better it is, as any positive announcement in Union Budget would result in more stable positive rally. For now, traders can go short at every positive rally and investors can accumulate stocks of blue chip stocks at every downfall.

FIIs were net sellers of Rs.26.34 crores whereas DIIs were net sellers of Rs.175.48 crores in cash market for last trading session. Nifty would see strong support at 8319-8290-8240-8200 whereas strong resistance would be seen at 8385-8400-8435-8460 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

Important Results To Be Disclosed Today: Asian Paints, Bharti Infratel, Chennai Petroleum Corporation, Den Networks, EIH, GIC Housing Finance, GSFC, Hindustan Unilever, Idea Cellular, JM Financial, JSW Energy, Karnataka Bank, L&T, Tata Communication and Trent.

NSE Nifty: (8349) The support for the Nifty is 8319-8290-8240-8200 and the resistance to the up move is at 8385-8400-8435-8460 levels.

NSE BankNifty: (18821) The support for BankNifty is at 18734-18610-18533-18440 and the resistance to the up move is at 19008-19110-19376-19440 levels.

BSE Sensex: (27035) The support for the Sensex is at 26950-26800-26720-26620 and the resistance to the up move is at 27195-27385-27450 levels.

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