Market Still Negative, Continue Short Until Nifty Holds Below 9989

Last Trading Session: Indian Stock Market opened negative as predicted by EquityPandit. EquityPandit predicted that the market would enter into a positive zone only if it closed above 9989 for Nifty. Indian Stock Market moved up sharply but was not able to sustain higher levels and fell down sharply from there and saw support right near EquityPandit’s predicted support levels of 33325 levels for Sensex. Finally, Indian Stock Market closed marginally negative for the day.

Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in a negative zone. Analysis would remain the same and the market would enter into a positive zone only if it closes above 9989 for Nifty and 20973 for BankNifty. Until then the market would see sideways movement with negatively biased. Today is the Index Options weekly expiry and hence the market would remain volatile. Traders are suggested to initiate long only if the market closes above EquityPandit’s reversal levels.

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Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.486.62 crores whereas DIIs were net buyers of Rs.168.05 crores in the cash market for the last trading session. Nifty would see strong support at 9775-9600-9508 whereas strong resistance would be seen at 9980-10040-10123-10173 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 Disclosed Today: Bajaj Consumer Care Ltd, Brigade Enterprises, Caplin Point Laboratories, CARE Ratings, City Union Bank, Gujarat Alkalies & Chemicals, GSFC, IRB Infra, MOIL, Thermax and Whirlpool of India Ltd.

NSE Nifty: (9881) The support for the Nifty 9775-9600-9508 and the resistance to the up move is at 9980-10040-10123-10173.

NSE BankNifty: (20202) The support for BankNifty is 19940-19740-19580-19211 and the resistance to the up move is 20370-20500-20773-21000 levels.

BSE Sensex: (33508) The support for the Sensex 33325-33110-32880-32618 and the resistance to the up move is at 33888-34067-34240-34408  levels.

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