Market Loosing Momentum But Short Nifty Only If It Closes Below 7842 Levels

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened negative for the day. EquityPandit predicted that Market would see correction but traders should initiate short positions only if Nifty closes below 7842 levels. EquityPandit also predicted that traders should hold long positions until Nifty closes below 7842 levels and exactly same happened. Indian Stock Market opened negative for the day and saw sharp correction as predicted by EquityPandit. Nifty moved sharply negative but managed to close just above EquityPandit’s predicted support levels. BankNifty also saw highs just below EquityPandit’s predicted resistance levels of 16780 levels. Finally, Indian Stock Market close negative for the day exactly as per EquityPandit’s predictions.

Today: Indian Stock Market would open flat for the day. Technically, Indian Stock Market is still in positive zone but Nifty is near to reversal levels. Nifty, if breaches levels of 7842 by closing then it would see a reversal and we may see sharp downfall. BankNifty would now see reversal at 16400 levels. These are important levels and traders are suggested to consider these levels while taking any decision in market. A sharp downfall would be seen if Nifty and BankNifty closes below these levels. Now, Nifty needs to breach levels of 7920 again to show some strength. FIIs were net buyers of Rs.222.34 crores whereas DIIs were net sellers of Rs.747.95 crores in cash market for last trading session. Nifty would see strong support at 7842-7825-7775-7730 whereas strong resistance would be seen at 7926-7980-8005-8025 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results Today: Axis Bank, Bharti Infratel, Biocon, IDFC Bank, Maruti Suzuki, Rallis India and Raymond.

NSE Nifty: (7855) The support for the Nifty is 7842-7825-7775-7730 and the resistance to the up move is at 7926-7980-8005-8025 levels.

NSE BankNifty: (16679) The support for BankNifty is at 16540-16380-16260-16200 and the resistance to the up move is at 16780-16885-16950-17100 levels.

BSE Sensex: (25678) The support for the Sensex is at 25540-25445-25357 and the resistance to the up move is at 25890-25956-26035-26200 levels.

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