Market Still Bearish, Continue To Hold Short Positions Until Nifty Below 14926

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that the market would see a sharp positive rally but traders can go short at positive rally and exactly the same happened. Indian Stock Market moved sharply positive and saw highs right near EquityPandit’s predicted resistance levels of 14880 for Nifty and fell down sharply from there. Market saw lows right at EquityPandit’s predicted support levels of 14470 for Nifty. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Market Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in a negative zone. Market may try to see some short covering but would enter into the positive zone only if it closes above 14926 for Nifty and 35076 for BankNifty and until then every positive rally would be an opportunity for traders to go short in the market. Overall, the market is still bearish and traders can continue to hold short positions for now.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1258.47 crores whereas DIIs were net sellers of Rs.1116.17 crores in the cash market for the last trading session. Nifty would see strong support at 14465-14380-14325-14270 whereas strong resistance would be seen at 14590-14660-14697-14745-14815 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (14558) The support for the Nifty is 14465-14380-14325-14270 and the resistance to the up move is at 14590-14660-14697-14745-14815.

NSE BankNifty: (33857) The support for BankNifty is 33580-33515-33365-33240 and the resistance to the up move is 34075-34170-34315-34506.

BSE Sensex: (49217) The support for the Sensex today is 48880-48715-48606-48500 and the resistance to the up move is at 49506-49660-49785-49888 levels.

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