Positive Reaction To Be Seen After Yesterday’s Downfall But Go Short At Positive Rally

Last Trading Session: Indian Stock Market opened negative as predicted. EquityPandit predicted that Indian Stock Market has formed DOJI pattern that is a reversal pattern and now traders should trade only once market breaches the range of 10945-11085 for Nifty on either side and exactly same happened. Indian Stock Market moved sharply negative and breached EquityPandit’s predicted support levels of 10945 for Nifty. Breaching 10945, market as a whole saw sharp breakdown as predicted and traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market as a whole including Nifty, BankNifty and Sensex have entered into negative zone. Market saw a sharp downfall yesterday and hence we may expect some positive reaction today but for now market would be considered bearish and traders should short at every positive movement. Traders should not go long until market is trading below 11034 levels for Nifty. Strategy would be to wait for some positive movement to happen and then go short for maximising profits. Now downside is open till 10745-10635 and we would see these levels in upcoming sessions if Nifty breaches levels of 10795.

Nifty:

BankNifty:

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FIIs were net sellers of Rs.808.29 crores whereas DIIs were net buyers of Rs.85.76 crores in cash market for last trading session. Nifty would see strong support at 10785-10730-10685-10640 whereas strong resistance would be seen at 10842-10880-10920-10975 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks In F&O Ban Period: NIL.

NSE Nifty: (10818) The support for the Nifty is 10785-10730-10685-10640 and the resistance to the up move is at 10842-10880-10920-10975 levels.

NSE BankNifty: (27132) The support for BankNifty is 27026-26988-26865-26800 and the resistance to the up move is 27380-27456-27500-27600 levels.

BSE Sensex: (36481) The support for the Sensex is 36422-36320-36240-36100 and the resistance to the up move is at 36605-36700-36780-36880 levels.

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