Nifty Near Support And May See Some Bounce Back But Hold Short Until Nifty Below 11351 By Closing 

Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that Indian Stock Market would open positive but the market is in bearish trend and traders can go short at every rally until Nifty holds below 11525 and exactly the same happened. Indian Stock Market moved positive and saw highs right near EquityPandit’s predicted resistance levels of 11308 for Nifty and fell down sharply from there. Market saw sharp downfall and saw low right at EquityPandit’s predicted support levels of 11085 like a dot. Nifty also achieved EquityPandit’s targets of 11100. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed the gap negative for the day.

Market Today: Indian Stock Market would open flat with positive bias. Now, Nifty and BankNifty are still in negative zone. Market would enter into a positive zone only if it closes above 11351 for Nifty and 21757 for Bank Nifty but until then traders can continue to hold short positions. Market is stretched after 4 days to consecutive downfall and also Nifty is hovering around its important support of 11100 and hence some positive movement can’t be ruled out. But traders should continue to hold short positions until the market closes above EquityPandit’s predicted reversal levels. Traders should initiate fresh long positions only if the market closes above these reversal levels of 11351 for Nifty and 21757 for BankNifty.

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Nifty:

Bank Nifty:

Check the Trend Of Major Indices and Stocks

FIIs were net sellers of Rs.2072.76 crores whereas DIIs were net buyers of Rs.878.91 crores in the cash market for the last trading session. Nifty would see strong support at 11100-11085-11024 whereas strong resistance would be seen at 11215-11265-11308-11340 levels. EquityPandit’s support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11154) The support for the Nifty is 11100-11085-11024 and the resistance to the up move is at 11215-11265-11308-11340.

NSE BankNifty: (21139) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21380-21560-21715-21862.

BSE Sensex: (37734) The support for the Sensex today is 37600-37440-37365-37110 and the resistance to the up move is at 37940-38075-38180-38370 levels.

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