Market Still Bearish, Continue Short Positions Until Nifty Holds Below 12254

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that markt is still in negative zone and would see sharp breakdown if BankNifty breaches 30800 and exactly same happened. Indian Stock Market moved positive but saw sharp profit booking from there as predicted. Market breached 30800 for BankNifty and saw 185 points sharp downfall from there as predicted by EquityPandit. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day. Market closed right above EquityPandit’s predicted support levels of 41110 for Sensex, 30700 for BankNifty and 12105 for Nifty like a dot.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in negative zone for now. Analysis would still remain same. Though some short covering may be seen but market is still bearish for now and would enter into positive zone only if it closes above 12254 for Nifty and 31290 for BankNifty. Until then market would still be considered bearish and traders should continue to hold short positions in the market.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.176.43 crores whereas DIIs were net sellers of Rs.326.22 crores in cash market for last trading session. Nifty would see strong support at 12070-12035-12000-11980 whereas strong resistance would be seen at 12155-12185-12201-12240 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Quarterly Results To Be Disclose Today: Biocon, Canara Bank, Cholamandalam Investment, DB Corp, Dishman Carbogen Amcis, GHCL, HDFC Life Insurane company, Oriental Bank Of Commerce, PNB Housing Finance, PVR Ltd, Radico Khaitan, Reliance Nippon Life Asset Management, Westlife Developers and Zensar Technologies.

NSE Nifty: (12107) The support for the Nifty is 12070-12035-12000-11980 and the resistance to the up move is at 12155-12185-12201-12240 levels.

NSE BankNifty: (30701) The support for BankNifty is 30635-30550-30445-30335-30227 and the resistance to the up move is 30800-30885-30950-31067 levels.

BSE Sensex: (41115) The support for the Sensex is 41035-41000-40880-40780 and the resistance to the up move is at 41180-41270-41380-41440 levels.

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