Market In Negative Zone, Go Short At Every Positive Rally

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that market has no fuel left to see positive rally and there is strong chance for market to enter into negative zone. EquityPandit also predicted that if BankNifty breaches levels of 19838 or Nifty breaches levels of 8980 then we would see a sharp downfall and traders should initiate shortsell in the market and exactly same happened. Indian Stock Market moved negative breaching EquityPandit’s predicted reversal levels. Market saw a sharp downfall after breaching EquityPandit’s levels. Traders who followed EquityPandit’s advice might have earned whopping profits for the day. Nifty saw lows right at EquityPandit’s predicted support levels of 8713 like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market entered into negative zone. Market to see some bounce after yesterday’s downfall but traders who initiated short positions yesterday on EquityPandit’s advice might be in good profits as of now and should continue to hold short positions. Market is in correction mode. Now BankNifty would see some support at 19500 levels where maximum open interest is been seen. Some bounce may be seen from those levels but overall every positive rally would be an opportunity for traders to go short. Closing below levels of 19500 for BankNifty would take the index near 19200-19100 levels. Nifty if breaches levels of 8700, it would move towards EquityPandit’s target of 8600-8500 levels. 8500 would be very strong support for Nifty. This downfall would not last very long as we can see very high premiums in Index futures and in Index Call options. We have also seen strength in smallcap and midcap stocks that suggest that this downfall is a mere correction after a big positive rally. But For now, traders should hold short positions in the market.
FIIs were net sellers of Rs.206.40 crores whereas DIIs were net sellers of Rs.113.35 crores in cash market for last trading session. Nifty would see strong support at 8688-8665-8630-8600-8570 whereas strong resistance would be seen at 8741-8775-8800-8830 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: (8723) The support for the Nifty is 8688-8665-8630-8600-8570 and the resistance to the up move is at 8741-8775-8800-8830 levels.

NSE BankNifty: (19592) The support for BankNifty is at 19484-19400-19299-19166 and the resistance to the up move is at 19660-19808-19965-20060 levels.

BSE Sensex: (28294) The support for the Sensex is at 28250-28183-28110-27950 and the resistance to the up move is at 28372-28420-28500-28660-28780 levels.

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