Market Entered Negative Zone, Short at Every Positive Rally
Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that market would move sharply negative but would see strong support at 7780 and exactly same happened. EquityPandit also predicted that if 7910 levels are not breached for Nifty then possibility of sudden downfall would persist. Indian Stock Market was not able to breach EquityPandit’s predicted resistance levels of 7910 and fell down sharply. BankNifty also saw strong supports near EquityPandit’s predicted support levels of 16518 levels. Finally, Indian Stock Market closed gap negative for the day with Nifty closing right above EquityPandit’s predicted support levels of 7780 like a dot.
Today: Indian Stock Market would open flat. Technically, Indian Stock Market has entered into negative zone. Today, some short-covering rally may be seen after a sharp downfall but Traders should go short at every positive rally in the market. Now next target for Nifty would be 7720-7685. Fears of FED Rate Hike would further pressurize the markets across the globe. Overall, now market would be considered negative and the trade is to go short at every rally in the market for better profits. Few Indian Corporate Giants would disclose their q4 results today that would further affect the market direction. FIIs were net sellers of Rs.764.58 crores whereas DIIs were net buyers of Rs.1483.65 crores in cash market for last trading session. Nifty would see strong support at 7753-7715-7700-7685 whereas strong resistance would be seen at 7830-7865-7900-7925 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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Important Results Today: Aditya Birla Nuvo, Allcargo Logistic, Ashoka Buildcon, Balrampur Chini, Bank Of India, Britannia Industries, Cox & Kings, DB Corp, eClerx, GVK Power, IDBI Bank, ITC Ltd, JP Chemicals, Justdial, Karnataka Bank, Praj Industries, Ramco Systems, Sundaram Fasteners, Ramco Cements, Timken India and Whirlpool.
NSE Nifty: (7783) The support for the Nifty is 7753-7715-7700-7685 and the resistance to the up move is at 7830-7865-7900-7925 levels.
NSE BankNifty: (16565) The support for BankNifty is at 16475-16377-16260-16188 and the resistance to the up move is at 16640-16780-16940-17000 levels.
BSE Sensex: (25400) The support for the Sensex is at 25256-25012 and the resistance to the up move is at 25437-25572-25660-25790 levels.
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