Market Enters Negative Zone, Initiate Short At Every Positive Rally In The Market

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Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would be bearish if it closes below 18105 for Nifty and 38049 for BankNifty and exactly the same happened. Indian stock Market moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 17880 like a dot. Finally, the Indian Stock Market closed a negative gap for the day.

Today: Indian Stock Market will open negative. Technically, the Indian Stock Market, including Nifty, BankNifty and Sensex has entered into a negative zone and traders should initiate fresh short positions at every rally in the market. Market would be considered bearish and traders can continue to hold short positions in the market till it holds below 18181 for Nifty and 38590 for BankNifty.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.2704.77 crores whereas DIIs were net sellers of Rs.195.07 crores in the cash market for the last trading session. Nifty would see strong support at 17865-17815-17770-17715 whereas strong resistance would be seen at 17960-18005-18075-18140 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17938) The support for the Nifty is 17865-17815-17770-17715 and the resistance to the up move is at 17960-18005-18075-18140 levels.

NSE BankNifty: (38041) The support for Bank Nifty is 37945-37815-37708-37540 and the resistance to the up move is 38240-38380-38515-38660-38718 levels.

BSE Sensex: (60099) The support for the Sensex is 59865-59715-59608-59500-59380 and the resistance to the up move is  60240-60340-60505-60615 levels.

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