Hold Short Positions Until Nifty Closes Above 9257, Infy Results Today

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that Nifty is in negative zone but BankNifty is still in positive zone. EquityPandit also predicted that traders should hold short positions until Nifty closes above 9257 and exactly same happened. Indian Stock Market moved positive but was not able to breach EquityPandit’s predicted resistance levels of 9250 and fell down from there. Nifty saw lows right near EquityPandit’s predicted support levels of 9165 like a dot. BankNifty saw sharp positive rally but was not able to breach higher levels and fell down sharply to see lows right near EquityPandit’s predicted support levels of 21540. Sensex also fell down to see lows near EquityPandit’s predicted support levels of 29540. Traders who followed EquityPandit’s suggestion to hold short positions might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open gap negative. Technically, analysis would remain same. Nifty is still in negative zone whereas BankNifty is in positive zone. Today, Infy would disclose its annual results and it would affect the direction of Indian Stock Market for the day. Nifty would still face strong resistance at 9257 on closing basis and until then, every positive rally would be an opportunity for traders to go short in the market. BankNifty would be consider weak once it closes below 21661 levels on spot basis but until then, it would be considered strong. Overall, market is negative backed with geopolitical tensions, so traders should hold short positions in Nifty until it closes above 9257 levels.

FIIs were net sellers of Rs.580.7 crores whereas DIIs were net buyers of Rs.701.12 crores in cash market for last trading session. Nifty would see strong support at 9200-9165-9150-9130 whereas strong resistance would be seen at 9250-9267-9280-9316 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 Corporate Results Today: Bajaj Corp, Infosys and Reliance Power.

NSE Nifty: (9203) The support for the Nifty is 9200-9165-9150-9130 and the resistance to the up move is at 9250-9267-9280-9316 levels.

NSE BankNifty: (21667) The support for BankNifty is at 21616-21540-21400-21331-21250 and the resistance to the up move is at 21790-21840-21950-22060 levels.

BSE Sensex: (29643) The support for the Sensex is at 29540-29440-29300 and the resistance to the up move is at 29720-29888-29930-30025 levels.

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