Market Still Bearish, Continue Short Till Nifty Holds Below 17547

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that will continue to remain weak and traders can continue to hold short positions in the market and exactly the same happened. Traders who followed EquityPandit’s advice might have earned whopping profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market will open negative. Technically, Indian Stock Market is still weak for now. Some short covering can be seen anytime after consecutive days of downfall but market would be considered bearish till it holds below 17547 for Nifty and 37651 levels for Bank Nifty. Traders should continue to hold short positions in the market.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.3751.58 crores whereas DIIs were net buyers of Rs.74.88 crores in the cash market for the last trading session. Nifty would see strong support at 17025-16955-16865-16715 whereas strong resistance would be seen at 17215-17270-17350-17440 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17149) The support for the Nifty is 17025-16955-16865-16715 and the resistance to the up move is at 17215-17270-17350-17440 levels.

NSE BankNifty: (36948) The support for Bank Nifty is 36711-36608-36540-36365 and the resistance to the up move is 37075-37170-37380-37515 levels.

BSE Sensex: (57492) The support for the Sensex is 57240-57075-56865-56708 and the resistance to the up move is 57715-57888-57950-58110 levels.

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