Market To See Sharp Positive Movement But Go Short At Rally Until Nifty Below 8742

Last Trading Session: Indian Stock Market opened negative for the last trading session. EquityPandit predicted that market would see further downfall and traders should continue short until it holds below 8630 for Nifty and exactly same happened. Indian Stock Market moved positive but saw highs right at EquityPandit’s predicted resistance levels of 8350 for Nifty. Market saw sharp downfall from there and finally, closed gap negative for the day as predicted.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market have entered into negative zone. Though market would see some short covering (positive movement) today after a consecutive downfall for last 5 trading sessions. Market would enter into positive zone only once it close above 8742 for Nifty but until then every positive movement would be an opportunity to go short in the market. Intraday traders can trade the volatility with keeping Equitypandit’s predicted support and resistances in the consideration.

Check: Special Report [Part Three]: Where Is The Indian Stock Market Headed?

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1960.97 crores whereas DIIs were net buyers of Rs.226.55 crores in cash market for last trading session. Nifty would see strong support at 8050-8000-7940-7830 whereas strong resistance would be seen at 8288-8350-8455-8567 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8084) The support for the Nifty is 8050-8000-7940-7830 and the resistance to the up move is at 8288-8350-8455-8567 levels.

NSE BankNifty: (17249) The support for BankNifty is 17035-16900-16670-16560 and the resistance to the up move is 17520-17660-17870-18075 levels.

BSE Sensex: (27591) The support for the Sensex is 27240-27065-26840-26715 and the resistance to the up move is at 28075-28280-28540-28760 levels.

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