Market To Open Gap Negative, Traders Should Continue Short Positions Until BankNifty Below 35051

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Indian Stock Market would see some short covering today and exactly the same happened. Market moved sharply positive and finally managed to close positive for the day.

Today: Indian Stock Market will open gap negative. Technically, analysis would still remain the same. Nifty is still in the positive zone whereas BankNifty is still in the negative zone. BankNifty would enter into the positive zone only if it closes above 35051 whereas Nifty would enter into the negative zone if it closes below 15707. Market would continue to remain bearish until BankNifty holds below 35051. Market would see further downfall if Nifty Closes below 15707. Traders should continue short positions until BankNifty is trading below 35051. EquityPandit’s Index Subscribers are earning huge profits every month. Subscribe Index Special Service under Biggest Offer to get Premium recommendations on BankNifty and Nifty at Biggest Ever Discounts. Biggest Offer to Finish Anytime Now.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.866.26 crores whereas DIIs were net buyers of Rs.2046.96 crores in the cash market for the last trading session. Nifty would see strong support at 15708-15660-15615-15505 whereas strong resistance would be seen at 15808-15885-15945-15970 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (15778) The support for the Nifty is 15708-15660-15615-15505 and the resistance to the up move is at 15808-15885-15945-15970 levels.

NSE BankNifty: (34692) The support for Bank Nifty is 34505-34365-34240-34110 and the resistance to the up move is 34808-34888-35085-35170 levels.

BSE Sensex: (52653) The support for the Sensex is 53540-52370-52115-52035-51950 and the resistance to the up move is at 52880-53035-53140-53270 levels.

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