BankNifty Entered Negative Zone, Initiate Short If Nifty Closes Below 10683

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the market formed Doji but traders should continue to hold long positions until Nifty trades above 10638 and exactly the same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 37037 for Sensex and fell down sharply from there. Finally, Indian Stock Market recovered and managed to close positive for the day but BankNifty closed gap negative for the day but right above EquityPandit’s predicted support levels of 22075.

Today: Indian Stock Market would open negative. Technically, BankNifty has entered into the negative zone but Nifty and Sensex are still in the positive zone. BankNifty would enter again into the positive zone only if it closes above 22878 whereas Nifty would enter into the negative zone once it closes below 10683. Now the market would consolidate until either of the two happens. Nifty is still bullish until 10683 holds. If Nifty closes below 10683 then the market would see sharp downfall and traders should initiate fresh short positions in that case but until then the market would continue to consolidate in a range.

EquityPandit Turns 15..

EquityPandit is celebrating 15 years of Research Excellence. We Thank You all for helping us reach this Milestone.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.221.76 crores whereas DIIs were net sellers of Rs.1485.59 crores in the cash market for the last trading session. Nifty would see strong support at 10750-10715-10685-10600  whereas strong resistance would be seen at at 10835-10880-10945-10980 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: Century Textiles, Delta Corp, Hindustan Copper, Mindtree and Wipro.

NSE Nifty: (10803) The support for the Nifty is 10750-10715-10685-10600 and the resistance to the up move is at 10835-10880-10945-10980.

NSE BankNifty: (22089) The support for BankNifty is 22025-21925-21815-21675 and the resistance to the up move is 22276-22545-22745-22850.

BSE Sensex: (36594) The support for the Sensex 36480-36370-36245-36075 and the resistance to the up move is at 36750-36888-37037-37110 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