Market Enters Negative Zone, Go Short At Every Positive Rally Until Nifty Below 17867

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that the Indian Stock Market would see high volatility and traders can initiate short positions if Nifty closes below 17700 and exactly the same happened. Indian Stock Market saw sharp downfall and finally closed gap negative for the day.

Today: Indian Stock Market will open gap negative. Technically, Indian Stock Market including Nifty, BankNifty and Sensex have entered into negative zone. Market would now be considered bearish until it holds below 17867 for Nifty and 38287 for BankNifty on a closing basis. Traders can go short at every rally in the market until it holds below EquityPandit’s predicted reversal levels.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.2225.60 crores whereas DIIs were net buyers of Rs.97.18 crores in the cash market for the last trading session. Nifty would see strong support at 17540-17505-17440-17365 whereas strong resistance would be seen at 17660-17715-17770-17815-17880 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17618) The support for the Nifty is 17540-17505-17440-17365 and the resistance to the up move is at 17660-17715-17770-17815-17880 levels.

NSE BankNifty: (37425) The support for Bank Nifty is 37270-37110-36940-36815 and the resistance to the up move is 37608-37740-37870-37952 levels.

BSE Sensex: (59126) The support for the Sensex is 58940-58825-58660-58570 and the resistance to the up move is at 59340-59515-59606-59770 levels.

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