Market To See Sharp Downfall, Go Long At Dips Until Nifty Holds Above 14825 By Closing

Last Trading Session: Indian Stock Market opened gap negative exactly as predicted. EquityPandit predicted that the market would see sharp profit booking and traders can go long at downfall and exactly the same happened. Indian Stock Market fell down sharply while opening on the account of profit booking. Nifty saw lows right at EquityPandit’s predicted support levels of 14977 like a dot. Market recovered sharply from EquityPandit’s predicted support levels. Finally, Indian Stock Market managed to close negative for the day.

Market Today: Indian Stock Market would open gap negative. Indian Stock Market is still in a positive zone. Market would see a sharp downfall but would enter into a negative zone only if it closes below 14825 for Nifty and 34952 for BankNifty. Traders can go long near our reversal levels until Nifty holds above reversal levels of 14825 for Nifty and 34952 for BankNifty by closing. The narrowing Bollinger Bands shows that market is ready for a sharp movement in either side in next few days. Once Market closes below 14825 For Nifty and 34952 for BankNifty then traders can close all long positions and initiate fresh short positions in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.223.11 crores whereas DIIs were net sellers of Rs.788.19 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 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (15081) The support for the Nifty is 14977-14880-14815-14740 and the resistance to the up move is at 15140-15170-15244-15280.

NSE BankNifty: (35803) The support for BankNifty is 35505-35365-35100-34800 and the resistance to the up move is 36075-36174-36324-36477.

BSE Sensex: (50846) The support for the Sensex today is 50625-50556-50505-50365-50110 and the resistance to the up move is at 51035-51140-51270-51365-51515 levels.

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