Go Short in Market only if Nifty closes below 7700 levels

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market is in positive zone but some sharp profit booking (negative movement) can’t be ruled out at this point of time and exactly same happened. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone but further downfall would be seen today on account of profit booking. Market is not able to sustain at higher levels. 7700 level is important level for Nifty, breaching which on the downside market would enter into negative zone and would see further downfall in days to come. BankNifty would enter into negative zone once it closes below levels of 16430 on spot basis. FIIs were net sellers of Rs.6.99 crores whereas DIIs were net sellers of Rs.404.98 crores in last trading session. Nifty would see strong support at 7715-7700-7680-7625 whereas strong resistance would be seen at 7770-7825-7864-7880 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: (7762) The support for the Nifty is 7715-7700-7680-7625 and the resistance to the up move is at 7770-7825-7864-7888 levels.

NSE BankNifty: (16594) The support for BankNifty is at 16514-16380-16255-16200 and the resistance to the up move is at 16640-16700-16780-16940 levels.

BSE Sensex: (25519) The support for the Sensex is at 25445-25365-25288-25150 and the resistance to the up move is at 25540-25660-25750-25885 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

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