Market In Bearish Zone, Traders Should Go Short At Every Positive Rally

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive. EquityPandit predicted that market would see sharp profit booking at higher levels after a positive opening. EquityPandit also suggested traders to go short in Nifty near 12400 levels with stoploss above 12450 and exactly same happened. Indian Stock Market saw highs near Equitypandit’s predicted resistance levels of 12440 for Nifty and fell down sharply from there giving around 200 points profits for Nifty to the traders who followed EquityPandit’s advice. Traders who followed EP advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open negative. Technically, BankNifty was already in negative zone and now Nifty has also entered into negative zone. Market would see some short covering rally after a sharp downfall yesterday but traders should go short at every positive rally until market holds below 12434 for Nifty. Overall, market is bearish for now and every positive rally would be an opportunity for traders to go short in the market.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.5.87 crores whereas DIIs were net sellers of Rs.1419.85 crores in cash market for last trading session. Nifty would see strong support at 12165-12125-12105-12070 whereas strong resistance would be seen at 12240-12270-12310-12380 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: Granules India, Havells India, HDFC Asset Management Company, ICICI Prudential Life Insurance Company, Polycab India, Tejas Networks and Zee Entertainment Enterprises Ltd.

NSE Nifty: (12225) The support for the Nifty is 12165-12125-12105-12070 and the resistance to the up move is at 12240-12270-12310-12380 levels.

NSE BankNifty: (31081) The support for BankNifty is 31025-30920-30865-30815-30700 and the resistance to the up move is 31169-31270-31340-31405-31455 levels.

BSE Sensex: (41529) The support for the Sensex is 41440-41350-41270-41180 and the resistance to the up move is at 40600-41660-41740-41800 levels.

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