Go Short At Every Positive Rally Until Nifty Closes Below 8962, US President To Address Congress

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive for the day. EquityPandit predicted that market may see some short covering rally but every positive rally would be an opportunity for traders to go short in the market and same happened. Indian Stock Market moved sharply positive on the account of short covering but finally fell down sharply from there to negative region. BankNifty saw lows right near EquityPandit’s predicted support levels of 20550. Traders, who followed EquityPandit’s advice to go short at every positive rally, might have earned whopping profits for the day. Finally, Indian Stock Market closed negative for the day. Nifty closed right on EquityPandit’s predicted support levels of 8880 like a dot.

Today: Indian Stock Market to open flat with positive bias. Technically, Indian Stock Market including Nifty, BankNifty and Sensex are in negative zone. US President Mr. Donald Trump to deliver his speech to the congress before Indian Stock Market opens and it would affect all markets across the globe, including Indian Stock Market. Market may see huge volatility due to events and news but traders should go short at every positive movement until Nifty closes above 8962 levels and BankNifty closes above 20898 levels. BankNifty would see some strong support at 20500 but once closes below those levels, we would see a sharp fall. Nifty may also see levels of 8850-8800 in upcoming days. Traders should hold short positions as of now.

FIIs were net buyers of Rs.1146.23 crores whereas DIIs were net buyers of Rs.268.34 crores in cash market for last trading session. Nifty would see strong support at 8850-8815-8800-8775 whereas strong resistance would be seen at 8900-8955-8980-9005 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: (8880) The support for the Nifty is 8850-8815-8800-8775 and the resistance to the up move is at 8900-8955-8980-9005 levels.

NSE BankNifty: (20607) The support for BankNifty is at 20550-20450-20380 and the resistance to the up move is at 20742-20850-20920-21060 levels.

BSE Sensex: (28743) The support for the Sensex is at 28675-28550-28400 and the resistance to the up move is at 28880-28950-29080-29154 levels.

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