Market To See Some Short Covering But Go Short At Rally Until Nifty Holds Below 11484

Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that the market is still bearish and traders should go short at every positive rally in the market. Indian Stock Market moved positive and saw resistance near EquityPandit’s predicted resistance levels of 11390 for Nifty and 23110 like a dot. Indian Stock Market fell down sharply from there and managed to close flat for the day.

Market Today: Indian Stock Market would open positive. Technically, Indian Stock Market is still in a negative zone. Analysis would remain the same. Market would enter into a positive zone once it closes above 11484 for Nifty and 23615 for BankNifty but until then it would be considered bearish. Market would see some short covering but traders can go short at every positive rally until the market holds below EquityPandit’s predicted reversal levels. Once the Market closes above these reversal levels then traders can close short positions and initiate fresh long positions in the market but until then go short at rally.

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.6.93 crores whereas DIIs were net sellers of Rs.815.82 crores in the cash market for the last trading session. Nifty would see strong support at 11274-11235-11165-11100 whereas strong resistance would be seen at 11390-11430-11455-11505 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11355) The support for the Nifty is 11274-11235-11165-11100 and the resistance to the up move is at 11390-11430-11455-11505.

NSE BankNifty: (22945) The support for BankNifty is 22770-22615-22515-22375 and the resistance to the up move is 23110-23240-23440-23605.

BSE Sensex: (38417) The support for the Sensex today is 38265-38227-38100-37875 and the resistance to the up move is at 38487-38635-38700-38747 levels.

Note:  If you wish to subscribe to 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