Initiate Short If Nifty Closes Below 9186, Strong Resistance At 9250

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that market would see correction but strong support would be seen at 9186 levels for Nifty and exactly same happened. Indian Stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 9186 for Nifty. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day. Sensex also closed right above EquityPandit’s predicted support of 29700 levels.

Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in positive zone and are just near its major support levels. We can see some bounce back from support levels but now 9250 would act as strong resistance for Nifty. Closing below 9186 levels for Nifty would force market to see sharp downfall. Though market is in positive zone but sentiments are weak and bears may hold the grip if Nifty is not able to breach levels of 9250 in the positive direction. Once the bounceback is seen, traders can go short with stoploss of 9255 levels for handsome profits. Nifty would resume its strength if it managed to trade above 9250 levels. Take short positions home, only if Nifty closes below 9186 levels.

FIIs were net sellers of Rs.262.37 crores whereas DIIs were net buyers of Rs.414.94 crores in cash market for last trading session. Nifty would see strong support at 9185-9150-9130 whereas strong resistance would be seen at 9222-9250-9280-9305 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: (9198) The support for the Nifty is 9185-9150-9130 and the resistance to the up move is at 9222-9250-9280-9305 levels.

NSE BankNifty: (21431) The support for BankNifty is at 21400-21331-21250-21145 and the resistance to the up move is at 21547-21616-21700-21840 levels.

BSE Sensex: (29707) The support for the Sensex is at 29620-29540-29440 and the resistance to the up move is at 29888-29930-30025-30060 levels.

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