Nifty Enters In Negative Zone, Go Short At Every Positive Rally Until It Holds Below 11251

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that the Indian Stock Market would see a sharp downfall and traders can go short if Nifty breaches below 11083 and exactly the same happened. Market opened positive and saw highs right near EquityPandit’s predicted resistance levels of 10154 for Nifty like a dot. Indian Stock Market moved sharply negative and finally breached EquityPandit’s predicted reversal levels of 11083. Market saw sharp downfall after breaching those levels and saw lows right at EquityPandit’s predicted support levels of 11024 for Nifty like a dot. Reliance Industries (-1.98%), State Bank Of India (+2.63%), Bajaj Finance (+1.03%) and Sun Pharma (+4.27%) were the most active stocks for the day. Traders who followed EquityPandit’s advice might have earned decent profits for the day. Finally, Indian Stock Market closed negative for the day.

Market Today: Indian Stock Market would open negative. Technically, BankNifty was already in the negative zone and now Nifty has also entered into the negative zone. Market would now see reversal again only if it closes above 11251 for Nifty and 22166 for BankNifty and until then traders should continue to go short at every positive rally. We may see some short covering in the market but overall, the market is bearish for now and every positive rally would be an opportunity for traders to go short in the market until the market closes above 11251 for Nifty.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.958.64 crores whereas DIIs were net buyers of Rs.442.73 crores in the cash market for the last trading session. Nifty would see strong support at 11040-11024-10980-10945  whereas strong resistance would be seen at 11154-11185-11205-11237 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: Bank Of India, Exide Industries, Kansai Nerolac Paints, KPIT Technologies, Nava Bharat Ventures and VST Industries..

NSE Nifty: (11073) The support for the Nifty is 11040-11024-10980-10945 and the resistance to the up move is at 11154-11185-11205-11237.

NSE BankNifty: (21640) The support for BankNifty is 21550-21350-21065-20878 and the resistance to the up move is 21862-22000-22385.

BSE Sensex: (37607) The support for the Sensex 37440-37365-37240-37110 and the resistance to the up move is at 37740-37930-38110-38245 levels.

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