Market To See Some Short Covering Rally But Go Short Near Resistances

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. EquityPandit predicted that market is in negative trend and traders can either continue to hold short positions or can go short at every raly in the market and exactly same happened. Indian Stock opened flat to negative and fell down sharply as per EquityPandit’s 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 would open positive. Technically, Indian Stock Market is still in negative zone but market is expected to see some short covering (positive movement) backed by positive clues from Asian Stock Markets. But since market is still in negative zone, traders can go short at sharp positive rally near EquityPandit’s predicted resistance levels. Market would enter into positive trend only when it closes above 10725 for Nifty and and 26240 for BankNifty but until then every positive rally would be an opportunity for traders to go short in the market.

FIIs were net sellers of Rs.166.15 crores whereas DIIs were net buyers of Rs.149.58 crores in cash market for last trading session. Nifty would see strong support at 10550-10500-10476-10439 whereas strong resistance would be seen 10632-10705-10780-10815 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

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NSE Nifty: (10596) The support for the Nifty is 10550-10500-10476-10439 and the resistance to the up move is at 10632-10705-10780-10815 levels.

NSE BankNifty: (25876) The support for BankNifty is at 25800-25665-25500 and the resistance to the up move is at 25940-26075-26165-26270 levels.

BSE Sensex: (34848) The support for the Sensex is at 34820-34740-34610-34500 and the resistance to the up move is at 34980-35075-35185-35303 levels.

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