Market Still Bearish, Continue To Hold Short Positions Until Holds Below 14789

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market would enter into a positive zone only if Nifty closes above 14789 but until then traders should go short at every positive rally in the market and exactly the same happened. Indian Stock Market moved positive but saw strong resistance right near EquityPandit’s predicted resistance levels of 14715 for nifty and fell down sharply from there to see lows near EquityPandit’s predicted support levels of 14470. Traders, who followed EquityPandit’s advice to go short at rally might have earned huge profits for the day. Finally, Indian Stock Market closed the gap negative for the day. Interestingly, BankNifty closed right at EquityPandit’s predicted support levels of 32270 like a dot.

Today: Indian Stock Market would open flat. Technically, analysis would remain the same. Indian Stock Market is still in a negative zone. Market will enter into a positive zone only if it closes above 14789 for Nifty and 33167 for Bank Nifty and until then traders should continue to hold short positions in the market. Trading continuously below 14450 for Nifty and 32200 for Bank Nifty would force the market to see further sharp downfall in the market. Overall, traders should continue to hold short positions in the market for now until we see reversal in the trend.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1772.37 crores whereas DIIs were net buyers of Rs.987.34 crores in the cash market for the last trading session. Nifty would see strong support at 14465-14380-14325-14270 whereas strong resistance would be seen at 14590-14660-14697-14745 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14497) The support for the Nifty is 14465-14380-14325-14270 and the resistance to the up move is at 14590-14660-14697-14745 levels.

NSE BankNifty: (32270) The support for BankNifty is 32035-31940-31865-31740 and the resistance to the up move is  32440-32506-32660-32770 levels.

BSE Sensex: (48254) The support for the Sensex is 48110-48035-47888-48714 and the resistance to the up move is at 48440-48515-48608-48718-48888  levels.

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