Market To Swing In Wide Range, Trend Bearish If Nifty Closes Below 9058

Last Trading Session: Indian Stock Market opened positive as predicted by EquityPandit. EquityPandit predicted that market would still be trading in a range and initiate short only if Nifty closes below 8954 and exactly same happened. Indian Stock Market opened gap positive and saw sharp positive rally for the day. BankNifty saw highs right near EquityPandit’s predicted resistance levels of 20210 and fell down sharply. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market would open flat. Technically, analysis would remain same and BankNifty is still in negative zone whereas Nifty is still in positive zone. BankNifty would enter into positive zone once it closes above 20529 whereas Nifty would enter into negative zone once it closes below 9058. Any of the above two situation would force overall market in that direction. But until then market would continue to swing in a wide range with high volatility. Traders can trade keeping Equitypandit’s predicted support and resistance in consideration and can take positions home once market confirms the trend.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.916.42 crores whereas DIIs were net buyers of Rs.1141.97 crores in cash market for last trading session. Nifty would see strong support at 9245-9160-9090-8980 whereas strong resistance would be seen at 9346-9405-9540 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (9282) The support for the Nifty is 9245-9160-9090-8980 and the resistance to the up move is at 9346-9405-9540 levels.

NSE BankNifty: (20081) The support for BankNifty is 19740-19580-19211-19118 and the resistance to the up move is 20210-20347-20500-20780 levels.

BSE Sensex: (31743) The support for the Sensex is 31490-31340-31280-31025 and the resistance to the up move is at 31880-32047-32240-32380 levels.

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