Nifty Entered Negative Zone, Initiate Short If BankNifty Closes Below 30451

Last Trading Session: Indian Stock Market opened flat for the day. Market tried to move higher in early trades but was not able to sustain higher levels. Market saw some profit booking and fell down sharply. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat with positive bias. Technically, Nifty have already entered into negative zone whereas BankNifty is still in positive zone. BankNifty would enter into negative zone if it closes below 30451 and if that happens then market would see sharp downfall. Traders can initiate fresh short position if BankNifty closes below 30451. Now market would be considered bullish only if it closes above 11992 for Nifty.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.584.92 crores whereas DIIs were net sellers of Rs.890.03 crores in cash market for last trading session. Nifty would see strong support at 11800-11748-11700-11655 whereas strong resistance would be seen at 11883-11960-12041-12083 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Aegis Logistics, Apollo Hospitals Enterprise, Balkrishna Industries, Bharti Airtel, BBTC, Dilip Buildcon, Dish TV, Future Lifestyle Fashions, Future Retail, Gayatri Projects, Glenmark Pharmaceuticals, GMR Infra, Godfrey Phillips, Grasim Industries, HEG, Hindustan Copper, India Tourism Development Corporation, Indiabulls Integrated Services, Jain Irrigation Systems, Jamna Auto Industries, Jindal Stainless (Hisar) Ltd, KNR Constructions, Maharashtra Seamless, Minda Industries, MOIL, Mphasis, NBCC, ONGC, Page Industries, PC Jeweller, PNC Infratech, PFC, Rajesh Exports, Reliance Infrastructure, Reliance Power, Sadbhav Engineering, SAIL, Suven Life Sciences, Suzlon Energy, Time Technoplast, Union Bank Of India, Vedanta and Vodafone Idea Ltd.

NSE Nifty: (11840) The support for the Nifty is 11800-11748-11700-11655 and the resistance to the up move is at 11883-11960-12041-12083 levels.

NSE BankNifty: (30542) The support for BankNifty is 30445-30350-30274-30110 and the resistance to the up move is 30660-30740-30800-30950 levels.

BSE Sensex: (40116) The support for the Sensex is 40035-40000-39940-39840 and the resistance to the up move is at 40240-40380-40500-40600 levels.

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