Market To See Sharp Positive Rally After Fed Decision, Go Short At Positive Rally

Last Trading Session: Indian Stock Market opened flat for the day as predicted. EquityPandit predicted that BankNifty already entered negative zone and traders can go short at every positive movement and can take short positions home if Nifty closes below 14898 levels and exactly the same happened. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 49715 for Sensex like a dot. Traders, who followed EquityPandit’s advice to go short at every positive movement might have earned huge profits for the day. Finally, Indian Stock Market closed the gap negative for the day.

Market Today: Indian Stock Market would open gap positive. Technically, BankNifty was already in the negative zone and now Nifty has also entered into the negative zone. Market would see a sharp positive rally after the US Fed decision of not hiking interest rates this year. Market would enter into a positive zone only if it closes above 15061 for Nifty and 35476 for BankNifty. Market may see sharp short covering but traders can go short after a positive rally in the market until it holds below 15061 for Nifty and 35476 for BankNifty.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.2625.82 crores whereas DIIs were net sellers of Rs.562.15 crores in the cash market for the last trading session. Nifty would see strong support at 14645-14616-14540-14470 whereas strong resistance would be seen at 14815-14880-14945-15035 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (14721) The support for the Nifty is 14645-14616-14540-14470 and the resistance to the up move is at 14815-14880-14945-15035.

NSE BankNifty: (34229) The support for BankNifty is 34126-34025-33865-33740 and the resistance to the up move is 35075-35325-35499-35615.

BSE Sensex: (49802) The support for the Sensex today is 49615-49508-49380-49240 and the resistance to the up move is at 50140-50270-50440-50635 levels.

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