Market May See Some Short Covering But Continue Short Until Nifty Holds Below 9402

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market Nifty is in negative zone but BankNifty would enter into negative zone only if it closes below 18825. EquityPandit predicted that traders can take short positions home if this happens. Indian Stock Market saw sharp downfall and finally closed gap negative for the day.

Today: Indian Stock Market would open flat. Technically, analysis would remain same. Nifty is still in negative zone whereas BankNifty his still in positive zone. BankNifty would enter into negative zone once it closes below 18825 levels and if that happens then market would see sharp downfall from there in days to come. Market may see some positive movement as a reaction but overall market is bearish and traders should continue to hold short positions until Nifty closes above 9402 levels. Once BankNifty closes below 18825 then traders can be confirmed for the further downfall.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.2152.52 crores whereas DIIs were net buyers of Rs.802.36 crores in cash market for last trading session. Nifty would see strong support at 9090-9024-8980-8900 whereas strong resistance would be seen at 9204-9265-9346-9405 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: Cipla Ltd, Crompton Greaves Consumer Electrical, L&T Finance Holdings, L&T Technology Services, M&M Financial Services and Nippon Life India Asset Management Ltd.

NSE Nifty: (9143) The support for the Nifty is 9090-9024-8980-8900 and the resistance to the up move is at 9204-9265-9346-9405 levels.

NSE BankNifty: (19069) The support for BankNifty is 18880-18660-18504-18380 and the resistance to the up move is 19170-19380-19516-19770 levels.

BSE Sensex: (31123) The support for the Sensex is 30927-30762-30680-30460 and the resistance to the up move is at 31390-31611-31880-32047 levels.

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