Market To See Short Covering, Initiate Long Only If Nifty Closes Above 14849

Last Trading Session: Indian Stock Market opened flat in last trading session. EquityPandit predicted that Nifty has entered into negative zone and traders can go short at every positive rally and exactly the same happened. Indian Stock Market moved positive but was not able to sustain the higher levels as predicted and fell down sharply from there. Bank Nifty saw lows right near EquityPandit’s predicted support levels of 32110 like a dot. Traders who went short at positive rally as per EquityPandit’s suggestion might have earned huge profits for the day. Finally, Indian stock Market closed negative for the day.

Today: Indian Stock Market would open positive. Technically, Nifty and Bank Nifty are still in the negative zone. Market would see sharp positive movement today. Market would enter into the positive zone only if it closes above 14849 for Nifty and 32961 for Bank Nifty. Market would be considered strong once it closes above these levels and Traders can go long if that happens but until then one should trade with caution.

Check Detailed Analysis of Nifty, BankNifty and Sensex For Today

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.2607.85 crores whereas DIIs were net buyers of Rs.613.26 crores in the cash market for the last trading session. Nifty would see strong support at 14616-14540-14470-14405 whereas strong resistance would be seen at 14815-14880-14945-15035 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14678) The support for the Nifty is 14616-14540-14470-14405 and the resistance to the up move is at 14815-14880-14945-15035 levels.

NSE BankNifty: (32170) The support for BankNifty is 32025-31865-31707-31615 and the resistance to the up move is 32380-32515-32608-32715 levels.

BSE Sensex: (48733) The support for the Sensex is 48506-48365-48240-48075 and the resistance to the up move is at 48888-49075-49170-49315-49540 levels.

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