Market Bearish If Closes Below 18105 For Nifty And 38049 For BankNifty

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Last Trading Session: Indian Stock Market opened flat as predicted by EquityPandit. EquityPandit predicted that the market would consolidate and traders should not initiate short positions until the market closes below 18105 for Nifty and exactly the same happened. Indian Stock Market moved sharply negative but finally, managed to close right above EquityPandit’s predicted reversal levels of 18105 levels for Nifty.

Today: Indian Stock Market will open flat. Technically, Market is still in a positive zone. Market would enter into the negative zone once it manages to close below 18105 for Nifty and 38049 for BankNifty. Traders can close all long positions and initiate fresh short positions if the market closes below 18105 for Nifty and 38049 for BankNifty.

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Nifty:

Bank Nifty:

FIIs were net sellers of Rs.1254.95 crores whereas DIIs were net sellers of Rs.220.20 crores in the cash market for the last trading session. Nifty would see strong support at 18035-17950-17880-17815 whereas strong resistance would be seen at 18170-18240-18315-18385 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (18113) The support for the Nifty is 18035-17950-17880-17815 and the resistance to the up move is at 18170-18240-18315-18385 levels.

NSE BankNifty: (38210) The support for Bank Nifty is 38075-38025-37945-37815 and the resistance to the up move is 38380-38515-38660-38718-38880 levels.

BSE Sensex: (60755) The support for the Sensex is 60640-60515-60365-60110 and the resistance to the up move is  60950-61110-61270-61380 levels.

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