Initiate Short Only If Nifty Closes Below 14898, Until Then Hold Long

Last Trading Session: Indian Stock Market opened positive as predicted. EquityPandit predicted that Indian Stock Market is still in positive zone and would enter into negative zone only if it closes below 14898 for Nifty and 35064 for BankNifty. EquityPandit also suggested traders to go long at dips near reversal levels until the market doesn’t close below those levels and exactly the same happened. Indian Stock Market fell down sharply and saw lows right at EquityPandit’s predicted support levels of 14740 for Nifty like a dot. Market recovered sharply from EquityPandit’s predicted support levels and managed to closed just above reversal levels. Finally, Indian Stock Market closed negative for the day.

Market Today: Indian Stock Market would open flat with positive bias. Indian Stock Market is still in a positive zone. The reversal levels for today are 14898 for Nifty and 35064 for BankNifty. Market would be considered bearish only if it closes below these reversal levels. In case of closing below these reversal levels, the market would enter into a negative zone and traders can initiate fresh short positions but until then traders can go long at dips. Market has seen long consolidation and soon we may see sharp movement on either side so follow EquityPandit’s predicted reversal levels very strictly for making directional trading decisions.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1101.35 crores whereas DIIs were net sellers of Rs.749.71 crores in the cash market for the last trading session. Nifty would see strong support at 14880-14815-14740-14707 whereas strong resistance would be seen at 15035-15080-15140-15170-15244 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (14930) The support for the Nifty is 14880-14815-14740-14707 and the resistance to the up move is at 15035-15080-15140-15170-15244.

NSE BankNifty: (35183) The support for BankNifty is 35035-34800-34606-34440 and the resistance to the up move is 35499-35615-35825-36083.

BSE Sensex: (50395) The support for the Sensex today is 50240-50110-49880-49715 and the resistance to the up move is at 50515-50770-50890-51035 levels.

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