Market To Open Lower, Hold Short Positions

Last Trading Session: Indian Stock Market opened positive for the day. EquityPandit predicted that Market would see some short-covering rally but traders should consider every positive rally as an opportunity to go short in the market and exactly same happened. Market opened positive and traders who followed EquityPandit’s advice to go short at positive rally might have earned huge profits for the day. Nifty saw strong support near EquityPandit’s predicted support of 7715 levels. Finally, Market closed negative for the day as per EquityPandit’s predictions.

Today: Indian Stock Market would open Negative. Technically, Indian Stock Market is still in negative zone. Now, 7715 levels would be an important closing levels to watch out for. Nifty if closes below 7715 levels then next target for Nifty would be 7678-7600 for Nifty and 16200 levels for BankNifty. Traders should continue holding short positions and should initiate further short positions for every positive rally in the market. FIIs were net sellers of Rs.65.60 crores whereas DIIs were net sellers of Rs.167.77 crores in cash market for last trading session. Nifty would see strong support at 7715-7700-7675-7606 whereas strong resistance would be seen at 7816-7830-7865-7888 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Results Today: Amara Raja Batteries, Bajaj Finance, Bajaj Finserv, Bank Of India, Cipla, Colgate-Palmolive, Greenply Industries, GSFC, Jai Corp, J&K Bank, Jubilant Life Sciences, MOIL, NCC, Omaxe, PI Industries, Page Industries, Redington India, Tata Global Beverages, Tech Mahindra and Wonderla Holidays.

NSE Nifty: (7731) The support for the Nifty is 7715-7700-7675-7606 and the resistance to the up move is at 7816-7830-7865-7888 levels.

NSE BankNifty: (16408) The support for BankNifty is at 16377-16260-16188-16011 and the resistance to the up move is at 16640-16780-16940-17000 levels.

BSE Sensex: (25230) The support for the Sensex is at 25110-25012-24950 and the resistance to the up move is at 25437-25572-25660-25790 levels.

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