Market In Consolidation, Go Short In Nifty At Every Rally With Stoploss At 9257

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market would see some bounce back from EquityPandit’s predicted support levels and once the bounce back is seen, traders can go short in Nifty with strict stoploss above 9255 levels and exactly same happened. Indian Stock Market saw bounce back but saw strong resistance at EquityPandit’s predicted resistance levels of 9222 for Nifty. Traders, who followed EquityPandit’s advice to go short at those levels might have earned whopping profits for the day. BankNifty also saw highs right near EquityPandit’s predicted resistance levels of 21547 and lows right at EquityPandit’s predicted support levels of 21400 like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, Nifty has entered into negative zone whereas BankNifty is still in positive zone. BankNifty would enter into negative zone once it closes below 21381 levels. Until then market has entered into consolidation and would continue to move in a range. Traders can go long in Nifty only if it closes above 9257 levels and until then every positive rally would be an opportunity for traders to go short in Nifty. Whereas if BankNifty managed to close below 21381 levels, then market would see sharp breakdown and we may see levels of 9000 in days to come.

FIIs were net sellers of Rs.716.19 crores whereas DIIs were net buyers of Rs.201.69 crores in cash market for last trading session. Nifty would see strong support at 9165-9150-9130-9109 whereas strong resistance would be seen at 9200-9222-9250-9280 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

NSE Nifty: (9181) The support for the Nifty is 9165-9150-9130-9109 and the resistance to the up move is at 9200-9222-9250-9280 levels.

NSE BankNifty: (21520) The support for BankNifty is at 21400-21331-21250-21145 and the resistance to the up move is at 21547-21616-21700-21840 levels.

BSE Sensex: (29576) The support for the Sensex is at 29540-29440-29300 and the resistance to the up move is at 29665-29770-29888-29930 levels.

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