Some Bounce Would Be Seen Today But Go Short At Every Positive Rally

Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that market would see sharp downfall today and traders can initiate fresh short positions below 9583 for Nifty and 20841 for BankNifty and exactly same happened. Indian Stock Market moved sharply negative after a gap negative opening and breached the reversal levels. Investors who followed Equitypandit advice since last many days to wait for fresh investments as this is just a bear rally might have been saved from this trap. Traders who followed Equitypandit’s advice to go short as market has reversed from the resistance might have earned whopping profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, Indian Stock Market including, Nifty, BankNifty and Sensex have entered into negative zone. Market would enter into positive zone only if it closes above 9675 for Nifty and 21040 for BankNifty. Overall, Indian stock Market is already in a bearish trend and the positive rally we saw in last 2 weeks was a bear market rally and is normally temporary. Now market is again in negative trend and traders should go short at every positive movement in the market. Market may see some bounce after a big downfall yesterday but overall market is negative until we have some strong stimulus announcement from the Central banks and hence until then, every positive rally would be an opportunity for traders to go short in the market.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.1373.98 crores whereas DIIs were net sellers of Rs.1661.61 crores in cash market for last trading session. Nifty would see strong support at 9245-9160-9090-8980 whereas strong resistance would be seen at 9346-9405-9540 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Adani Ports, NIIT Technologies, Persistent Systems, Rallis India, SBI Life Insurance Company, Tata Coffee and Varun Beverages.

NSE Nifty: (9294) The support for the Nifty is 9245-9160-9090-8980 and the resistance to the up move is at 9346-9405-9540 levels.

NSE BankNifty: (19744) The support for BankNifty is 19400-19211-19118-18940 and the resistance to the up move is 19965-20067-20210-20418 levels.

BSE Sensex: (31715) The support for the Sensex is 31490-31340-31280-31025 and the resistance to the up move is at 32047-32240-32435-32585 levels.

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