Initiate Fresh Short Position Once Nifty Closes Below 8954

Last Trading Session: Indian Stock Market opened gap negative as predicted by EquityPandit. EquityPandit predicted that market would see profit booking. Indian Stock Market moved sharply negative and saw lows right near EquityPandit’s predicted support levels of 8900 for Nifty. Finally, market recovered a bit and still closed gap negative for the day.

Today: Indian Stock Market would open negative. Technically, BankNifty has entered into negative zone whereas Nifty is still in positive zone. Nifty would enter into negative zone once it closes below 8954. Traders can initiate fresh short position once Nifty closes below 8954. We would see sharp downfall once Nifty closes below 8954 levels for Nifty. BankNifty would see next support at 18700.

Nifty:

BankNifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.2095.23 crores whereas DIIs were net sellers of Rs.68.46 crores in cash market for last trading session. Nifty would see strong support at 8900-8820-8745-8665 whereas strong resistance would be seen at 9050-9127-9210-9346 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8981) The support for the Nifty is 8900-8820-8745-8665 and the resistance to the up move is at 9050-9127-9210-9346 levels.

NSE BankNifty: (19409) The support for BankNifty is 19211-19118-18940-18700 and the resistance to the up move is 19770-19965-20067-20210 levels.

BSE Sensex: (30637) The support for the Sensex is 30460-30280-30115-30035 and the resistance to the up move is at 30820-31067-31210-31390 levels.

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