Nifty Enters Negative Zone, Go Short At Positive Rally Until Nifty Holds Below 14930

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that market would be considered bullish only if BankNifty closes above 33167 but until then traders should trade with caution and exactly the same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 11645 like a dot. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, BankNifty was already in the negative zone and now Nifty has also entered into the negative zone. Though market would see some rally backed by the global markets but it would be temporary in nature. The market would be considered weak until it holds below 14930 levels for Nifty and 33167 levels for BankNifty. For now, traders can go short at every rally in the market. Those who went short in the last trading session on EquityPandit’s suggestion can continue to hold short positions for now.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1260.59 crores whereas DIIs were net sellers of Rs.704.36 crores in the cash market for the last trading session. Nifty would see strong support at 14815-14770-14715-14645 whereas strong resistance would be seen at 14890-14965-15035-15075 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14697) The support for the Nifty is 14616-14540-14470-14405 and the resistance to the up move is at 14815-14880-14945-15035 levels.

NSE BankNifty: (32452) The support for BankNifty is 32270-32110-32025-31865 and the resistance to the up move is 32608-32715-32888-33075 levels.

BSE Sensex: (48691) The support for the Sensex is 48506-48365-48240-48075 and the resistance to the up move is at 48888-49075-49170-49315 levels.

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