Market To See Sharp Profit Booking, Initiate Short If Nifty Closes Below 14898

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that the market entered into a positive zone and traders cna go long at every dip in the market. Indian Stock Market moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 15170 for Nifty like a dot. Market reversed from EquityPandit’s predicted resistance and saw some profit booking. Finally, Indian Stock Market closed the gap positive for the day.

Market Today: Indian Stock Market would open gap negative. Indian Stock Market is still in a positive zone. Market would enter into a negative zone if it closes below 14898 for Nifty and 35897 for BankNifty. Market has retraced from important Fibonacci retracement levels in the last trading session. If the market is not able to breach yesterday’s highs then we may see a sharp selloff. If the market closes below our reversal levels of 14898 for Nifty and 35897 for BankNifty then we may see a sharp breakdown in the market. Traders can initiate fresh short positions if the market closes below 14898 for Nifty and 35897 for BankNifty.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.188.08 crores whereas DIIs were net sellers of Rs.746.57 crores in the cash market for the last trading session. Nifty would see strong support at 15030-14977-14880-14815 whereas strong resistance would be seen at 15140-15170-15244-15280-15315 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (15097) The support for the Nifty is 15030-14977-14880-14815 and the resistance to the up move is at 15140-15170-15244-15280-15315.

NSE BankNifty: (36549) The support for BankNifty is 36320-36170-36075-36945-36800 and the resistance to the up move is 36670-36865-36970-37075.

BSE Sensex: (51039) The support for the Sensex today is 50880-50770-50625-50505-50365 and the resistance to the up move is at 51140-51270-51365-51515 levels.

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