Market To See Sharp Downfall Today As BankNifty Enters The Negative Zone

Last Trading Session: Indian Stock Market opened positive exactly as predicted by EquityPandit. EquityPandit predicted that the market would remain volatile on the Loan Moratorium hearing. EquityPandit also predicted to initiate fresh short positions if BankNifty closes below 23703 and exactly the same happened. Indian Stock Market moved negative after a volatile session. BankNifty finally closed below our reversal levels of 23703 and entered into a negative zone.

Market Today: Indian Stock Market would open gap negative. Technically, Nifty is still in the negative zone and BankNifty now entered into a negative zone. EquityPandit predicted that traders can initiate fresh short positions if BankNifty closes below 23703. Traders who followed EquityPandit’s advice yesterday would be able to earn huge profits today. Market is bearish for now and traders can go short at every positive movement in the market for now. The market has seen reversals from the strong resistance levels and hence we would see a sharp breakdown in the market.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.7.72 crores whereas DIIs were net buyers of Rs.120.08 crores in the cash market for the last trading session. Nifty would see strong support at 11430-11400-11365-11300 whereas strong resistance would be seen at 11555-11600-11682-11703 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11527) The support for the Nifty is 11430-11400-11365-11300 and the resistance to the up move is at 11555-11600-11682-11703.

NSE BankNifty: (23531) The support for BankNifty is 23330-23240-23035-22800 and the resistance to the up move is 23606-23750-23880-24075.

BSE Sensex: (38991) The support for the Sensex today is 38660-38500-38340-38110 and the resistance to the up move is at 39240-39380-39465-39660 levels.

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