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Market To Remain Volatile Due To Long Weekend, Initiate Short Only If BankNifty Closes Below 37480

Last Trading Session: Indian Stock Market opened negative exactly as predicted by EquityPandit. EquityPandit predicted that the market is still in the negative zone and traders can go short at every rally in the market and exactly the same happened. The Indian Stock Market saw a sharp downfall as predicted by EquityPandit. BankNifty remained positive as predicted. Finally, Indian Stock Market closed gap negative for the day while BankNifty closed positive for the day.

Today: Indian Stock Market will open flat. Technically, Nifty is still in the negative zone whereas BankNifty is still in the positive zone. BankNifty will enter the negative zone once it closes below 37480 levels. Nifty will continue to remain in the negative zone until it closes above 17754 levels. Some bounce cannot be ruled out at this point of time. Once BankNifty manages to close below 37480, then traders can go full short in the market. Traders are suggested to not take any leveraged trading positions home due to the long weekend.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.3128.39 crores whereas DIIs were net buyers of 870.01 crores in the cash market for the last trading session. Nifty will see strong support at 17450-17365-17240 whereas strong resistance would be seen at 17608-17675-17752-17825 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (17530) The support for the Nifty is 17450-17365-17240 and the resistance to the up move is at 17608-17675-17752-17825 levels.

NSE BankNifty: (37747) The support for Bank Nifty is 37500-37365-37240-37110-36940 and the resistance to the up move is 37870-37952-38075-38160 levels.

BSE Sensex: (58576) The support for the Sensex is 58365-58110-57950-57822 and the resistance to the up move is 58750-58815-59025-59110-59245 levels.

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