Some Short Covering Will Be Seen But Go Short At Rally As Market Bearish For Now

Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted Nifty is already in the negative zone and traders should initiate fresh long positions only if Nifty closes above 18339 and exactly the same happened. The Indian Stock Market moved sharply negative for the day. Traders who followed EquityPandit’s advice to hold short positions in Nifty might have earned huge profits for the day. Finally, the Indian Stock Market closed a negative gap for the day.

Today: Indian Stock Market will open flat. Technically, Nifty was already in the negative zone and now BankNifty has also entered into the negative zone. Market has seen a sharp downfall yesterday and some short covering can’t be ruled out at this point of time but traders should consider every short covering (positive movement) as an opportunity to go short in the market. Though some positive movement would be seen but it would be just a reaction to the sharp downfall seen yesterday and overall, the market would be considered bearish for now.

Check Now The List Of Stocks To Buy Today

Check Detailed Analysis of Nifty, Bank Nifty and Sensex For Today

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

Nifty:

Bank Nifty:

FIIs were net sellers of Rs.3818.51 crores whereas DIIs were net buyers of Rs.836.60 crores in the cash market for the last trading session. Nifty would see strong support at 17815-17770-17715-17660 whereas strong resistance would be seen at 17880-17940-18005-18075 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17857) The support for the Nifty is 17815-17770-17715-17660 and the resistance to the up move is at 17880-17940-18005-17075 levels.

NSE BankNifty: (39509) The support for Bank Nifty is 39270-39035-38865-38660 and the resistance to the up move is 39774-39950-40035-40200 levels.

BSE Sensex: (59985) The support for the Sensex is 59865-59715-59608-59500-59380 and the resistance to the up move is at 60170-60340-60505-60615 levels.

Premium Subscription Pricing details can be seen at Stock Market Premium Services