Upside Limited For The Indian Market, Traders Can Go Short At Every Positive Movement

Last Trading Session: Indian Stock Market opened positive for the day as predicted by EquityPandit. EquityPandit predicted that market would see sharp positive rally and upside is open till 9200 and exactly same happened. Indian Stock market moved sharply positive and made highs above 9250 levels for Nifty but was not able to hold higher levels. Market fell sharply from there and finally market closed negative for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone at this point of time. But market would see some profit booking (negative movement) for now. Market would enter into negative zone only if it closes below 8657 for Nifty. Upside is very limited for the market. Overall, market is bearish for midterm and traders can go short at every positive rally in the market with stoploss above EquityPandit’s predicted resistance levels. Market would enter into negative zone once it closes below 8657 for Nifty and 18300 for BankNifty. If market manages to close below 8657 for Nifty and 18300 for BankNifty then we can see sharp negative movement in the market.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net buyers of Rs.1359.31 crores whereas DIIs were net sellers of Rs.1097.86 crores in cash market for last trading session. Nifty would see strong support at 8874-8820-8745-8665 whereas strong resistance would be seen at 9057-9127-9210-9346 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8925) The support for the Nifty is 8874-8820-8745-8665 and the resistance to the up move is at 9057-9127-9210-9346 levels.

NSE BankNifty: (19057) The support for BankNifty is 18880-18660-18504-18380 and the resistance to the up move is 19170-19380-19516-19770 levels.

BSE Sensex: (30380) The support for the Sensex is 30115-30000-29815-29645-29515 and the resistance to the up move is at 30501-30660-30800-31067 levels.

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