Nifty Enters Negative Zone, Add Short Positions If BankNifty Closes Below 36320

Last Trading Session: Indian Stock Market opened positive for the day as predicted. EquityPandit suggested traders to go short in the market if Nifty closes below 15156 and exactly the same happened. Indian Stock Market moved sharply negative and breached EquityPandit’s predicted reversal levels of 15156. Market saw sharp downfall after breaching the reversal levels. Finally, Indian Stock Market closed the gap negative for the day.

Market Today: Indian Stock Market would open negative. Technically, Nifty has entered into negative zone while BankNifty is still in positive zone. BankNifty would enter into a negative zone only if it closes below 36320. Market would now see further negative momentum. Once BankNifty closes below 36320, the market would see a sharp downfall. Traders can go short at every positive movement near EquityPandit’s predicted resistances until Nifty closes above 15340. Bearish trend would confirm once BankNifty also enters into the negative zone by closing below 36320 and if that happens traders can add short positions.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.903.07 crores whereas DIIs were net sellers of Rs.1217.34 crores in the cash market for the last trading session. Nifty would see strong support at 15075-15035-14977-14880 whereas strong resistance would be seen at 15168-15244-15280-15315 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (15118) The support for the Nifty is 15075-15035-14977-14880 and the resistance to the up move is at 15168-15244-15280-15315.

NSE BankNifty: (36587) The support for BankNifty is 36440-36320-36170-36075 and the resistance to the up move is 36670-36865-36970-37075.

BSE Sensex: (51325) The support for the Sensex today is 51185-51035-50880-50815 and the resistance to the up move is at 51515-51660-51740-51880 levels.

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