Market Trading In A Range, Initiate Short Only If Nifty Closes Below 8954

Last Trading Session: Indian Stock Market opened gap negative for the day. Market moved sharply positive after negative opening and saw resistance near EquityPandit’s predicted resistance levels of 19965 for BankNifty. Indian Stock Market fell down again from there and finally closed gap negative for the day.

Today: Indian Stock Market would open positive. Technically, BankNifty is still in negative zone whereas Nifty is still in positive zone. Analysis would still remain same. Market would enter into Negative zone only if Nifty closes below 8981. Whereas BankNifty would enter into positive zone once it close above 20529. Market would remain rangebound until either of the two happens. Traders can trade keeping EquityPandit’s predicted support and resistance in mind. Once market closes out of these reversal levels, traders can carry positions in that direction.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.207.29 crores whereas DIIs were net sellers of Rs.993.98 crores in cash market for last trading session. Nifty would see strong support at 9090-8980-8900-8820 whereas strong resistance would be seen at 9205-9265-9346-9405 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (9154) The support for the Nifty is 9090-8980-8900-8820 and the resistance to the up move is at 9204-9265-9346-9405 levels.

NSE BankNifty: (19587) The support for BankNifty is 19400-19211-19118-18940 and the resistance to the up move is 19735-19965-20067-20210 levels.

BSE Sensex: (31327) The support for the Sensex is 31025-30927-30640-30460 and the resistance to the up move is at 31660-31880-32047-32240 levels.

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