BankNifty Enters Negative Zone, Go Short if Nifty Closes Below 14898

Last Trading Session: Indian Stock Market opened flat with positive bias as predicted. EquityPandit predicted that traders should initiate fresh short positions if market closes below 14898 for Nifty and 35064 for BankNifty. Market moved sharply negative and saw lows right above EquityPandit’s predicted support levels of 14880. Market recovered marginally from there but finally closed negative for the day. BankNifty also closed right above EquityPandit’s predicted support levels of 34800 like a dot.

Market Today: Indian Stock Market would open flat. Technically, Nifty is still in the positive zone whereas BankNifty has entered into the negative zone. Now, traders can go short if Nifty managed to close below 14898. For now the market would be indecisive until Nifty enters the negative zone by closing below 14898 or BankNifty again enters into positive zone by closing above 35944. Traders can go short at every positive movement on an intraday basis and can take short positions home once Nifty closes below 14898 levels.

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Nifty:

Bank Nifty:

FIIs were net buyers of Rs.1692.31 crores whereas DIIs were net sellers of Rs.1168.59 crores in the cash market for the last trading session. Nifty would see strong support at 14880-14815-14740-14707 whereas strong resistance would be seen at 15035-15080-15140-15170-15244 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.
  
NSE Nifty: (14910) The support for the Nifty is 14880-14815-14740-14707 and the resistance to the up move is at 15035-15080-15140-15170-15244.

NSE BankNifty: (34805) The support for BankNifty is 34740-34606-34440-34270 and the resistance to the up move is 35075-35325-35499-35615.

BSE Sensex: (50364) The support for the Sensex today is 50240-50110-49880-49715 and the resistance to the up move is at 50515-50770-50890-51035 levels.

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