Market Still Bearish, Go Short At Positive Movement Until Nifty Holds Below 12105 

Last Trading Session: Indian Stock Market opened flat with positive bias. EquityPandit predicted that market would be considere bearish until Nifty holds below 12105 and until then traders should go short at every positive rally in the market and exactly same happened. Indian Stock Market moved sharply positive but was not able to hold higher levels and saw sharp profit booking from there. Market saw strong resistance near EquityPandit’s predicted resistance levels of 40995 for Sensex and 31713 for BankNifty. Market saw a sharp downfall from there. Traders, who followed EquityPandit’s suggestion might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open positive. Analysis would remain same. Indian Stock Market is still in negative zone. Some short covering positive movement would be seen but market is still bearish and traders should continue to go short at every positive rally. Market would enter into positive zone only if it closes above 12105 for Nifty and 32059 for BankNifty. Traders should initiate long only if market closes above these levels but until then traders should continue to go short at every positive movement in the market.

Nifty:

BankNifty:

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FIIs were net buyers of Rs.653.36 crores whereas DIIs were net sellers of Rs.410.49 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 12065-12105-12150-12188 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (12018) The support for the Nifty is 12000-11940-11905-11880 and the resistance to the up move is at 12065-12105-12150-12188 levels.

NSE BankNifty: (31712) The support for BankNifty is 31600-31500-31455-31365 and the resistance to the up move is 31835-31880-31960-32035 levels.

BSE Sensex: (40780) The support for the Sensex is 40715-40660-40600-40540 and the resistance to the up move is at 40880-40995-41035-41110 levels.

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