Market Bearish Until Nifty Holds Below 12105, RBI Monetary Policy Today

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. Market moved sharply negative as predicted but saw strong support at EquityPandit’s predicted support levels of 11940 for Nifty. Market recovered sharply from lows and managed to close gap positive for the day.

Today: Indian Stock Market would open flat. Indian Stock Market is still in negative zone. Traders should continue to go short at every positive rally in the market until market closes above 12105 for Nifty and 32059 for BankNifty. RBI Monetary Policy would be disclosed today and would affect the direction of Indian Stock Market for the day. Traders can initiate fresh long positions only if market closes above 12105 for Nifty and 32059 for BankNifty but until then market would be considered bearish.

Nifty:

BankNifty:

Click Here to Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.781.06 crores whereas DIIs were net buyers of Rs.904.13 crores in cash market for last trading session. Nifty would see strong support at 12000-11940-11905-11880 whereas strong resistance would be seen at 12105-12150-12188 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (12043) The support for the Nifty is 12000-11940-11905-11880 and the resistance to the up move is at 12105-12150-12188 levels.

NSE BankNifty: (31979) The support for BankNifty is 31865-31730-31600-31500 and the resistance to the up move is 32035-32110-32240-32380 levels.

BSE Sensex: (40850) The support for the Sensex is 40715-40660-40600-40540 and the resistance to the up move is at 40880-40995-41035-41110 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