Market Enters Negative Zone, Go Short At Every Positive Rally Until Nifty Below 17642

Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that Indian Stock Market would see profit booking and traders can go short below 17532 for Nifty and exactly the same happened. The Indian Stock Market moved sharply negative as predicted. Finally, the Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market will open positive. Technically, Indian Stock Markets including Nifty, BankNifty and Sensex have entered into negative zone. Market may see initial bounce after yesterday’s sharp downfall but market would be considered negative until it holds below 17642 for Nifty and 37963 for BankNifty. Traders should go short at every positive rally in the market until it holds below EquityPandit’s predicted reversal levels.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.92.54 crores whereas DIIs were net sellers of Rs.1626.58 crores in the cash market for the last trading session. Nifty would see strong support at 17325-17285-17240-17170 whereas strong resistance would be seen at 17440-17506-17570 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17397) The support for the Nifty is 17325-17285-17240-17170 and the resistance to the up move is at 17440-17506-17570 levels.

NSE BankNifty: (37146) The support for Bank Nifty is 37025-36865-36715-36608 and the resistance to the up move is 37380-37515-37660-37770 levels.

BSE Sensex: (58490) The support for the Sensex is 58308-58110-58035-57940 and the resistance to the up move is at 58540-58660-58740-58880 levels.

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