Market Confirms Negative Trend For Now, Go Short At Every Positive Movement

Last Trading Session: Indian Stock Market opened flat exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would consolidate until it breaks the range of 10700-10835. EquityPandit also predicted that traders can take short positions home if BankNifty manages to close below 26451 and exactly same happened. Indian Stock Market saw sharp downfall after a flat opening. Market saw lows right near EquityPandit’s predicted support levels of 10645 for Nifty and 26340 for BankNifty like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market has entered into negative zone and we would see further selling pressure. Traders should go short at every positive movement in the market for now. Overall, market is bearish and next logical target for Nifty is 10600 in days to come.

FIIs were net buyers of Rs.67.44 crores whereas DIIs were net buyers of Rs.84.31 crores in cash market for last trading session. Nifty would see strong support at 10645-10590-10550 whereas strong resistance would be seen 10705-10745-10780-10805 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

Stocks In F&O Ban Period: DHFL, INFIBEAM, JISLJALEQS, JPASSOCIAT and WOCKPHARMA.

NSE Nifty: (10671) The support for the Nifty is 10645-10590-10550 and the resistance to the up move is at 10705-10745-10780-10805 levels.

NSE BankNifty: (26423) The support for BankNifty is at 26320-26180-26100-26078 and the resistance to the up move is at 26518-26580-26660-26715 levels.

BSE Sensex: (35217) The support for the Sensex is at 35165-35070-35000-34970-34850 and the resistance to the up move is at 35303-35440-35507-35660 levels.

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