Market Ready To See A Big Movement In Upcoming Days, Hedge Your Positions

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat for the day. EquityPandit predicted that market would consolidate in a rangebound region for this week. EquityPandit also suggested traders to go short at higher levels and buy at lower levels and exactly same happened. Indian Stock Market moved positive and then saw a sharp profit booking at higher levels. Market fell down sharply and saw short covering rally from lower levels near EquityPandit’s suggested levels of 20500 for BankNifty. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. BankNifty saw lows right near EquityPandit’s predicted support levels of 20550 and saw highs right near EquityPandit’s predicted resistance levels of 20720 like a dot. Finally, Indian Stock Market closed negative with some positivity in Banking sector for the day. Nifty saw lows right near EquityPandit’s predicted reversal levels of 8891 like a dot. Nifty closed right on EquityPandit’s predicted support levels of 8925 like a dot.

Today: Indian Stock Market would open gap negative. Technically, analysis would still remain same. Nifty is still in positive zone and BankNifty is still in negative zone. Market would fell down in early trades and then again short covering rally would be seen later in the day. Indian Stock Market is consolidating for almost 2 weeks and now it is ready to see a big movement on either side in next 2 trading sessions and UP Poll results would be a trigger for this big move. Traders should hedge their positions and can go for BankNifty Option trades to limit the risk and multiply the profits.

FIIs were net buyers of Rs.3573.04 crores whereas DIIs were net sellers of Rs.1735.12 crores in cash market for last trading session. Nifty would see strong support at 8897-8850-8815 whereas strong resistance would be seen at 8969-8982-9005-9120 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: (8924) The support for the Nifty is 8897-8850-8815 and the resistance to the up move is at 8969-8982-9005-9120 levels.

NSE BankNifty: (20677) The support for BankNifty is at 20550-20450-20380-20215 and the resistance to the up move is at 20714-20800-20920-21045 levels.

BSE Sensex: (28902) The support for the Sensex is at 28820-28750-28675 and the resistance to the up move is at 29080-29154-29240-29325 levels.

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