Market To See Short Covering But Go Short At Rally Until Nifty Holds Below 9480

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that market would see further downfall and traders should continue to hold short positions in the market and exactly same happened. Indian Stock Market moved sharply positive after a negative opening but saw strong resistance near EquityPandit’s predicted resistance levels of 9283 for Nifty, 31715 for Sensex and 19770 for BankNifty. Market saw sharp downfall from there into the negative region and traders who followed EquityPandit’s advice to hold short positions might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open gap positive. Technically, Indian Stock Market is still in negative zone. Market would see positive movement as a reaction to consecutive downfalls but would enter into positive zone only if it closes above 9480 for Nifty and 20310 for BankNifty and until then every positive rally would be an opportunity to go short in the market.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.19054.49 crores whereas DIIs were net buyers of Rs.3818.41 crores in cash market for last trading session. Nifty would see strong support at 9160-9090-9024-8980 whereas strong resistance would be seen at 9283-9346-9405-9540 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results To Be Disclosed Today: Adani Gas Ltd, P&G Hygiene and Health Care, Reliance Capital, Reliance Infrastructure, Reliance Power, Shree Cement and TCI Express Ltd.

NSE Nifty: (9199) The support for the Nifty is 9160-9090-9024-8980 and the resistance to the up move is at 9283-9346-9405-9540 levels.

NSE BankNifty: (19492) The support for BankNifty is 19380-19211-19118-18940 and the resistance to the up move is 19770-19965-20067 levels.

BSE Sensex: (31443) The support for the Sensex is 31340-31280-31025-30880 and the resistance to the up move is at 31715-31880-32047-32240 levels.

Note:  If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services