Market May Open Positive But Go Short At Every Positive Movement

Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative for the day. EquityPandit predicted that Indian Stock Market would see new lows again and traders should continue shorting at every point.

EquityPandit also predicted that Bank NIFTY , if remained below 14600 levels then it would see further breakdown and levels near 13900 would be seen and exactly same happened. Indian Stock Market fell down sharply. BankNifty saw lows near EquityPandit’s predicted targets of 13900 with whooping 600 points negative movement in a single day. Traders who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open positive for the day on the account of some bounceback reaction after a big downfall. But traders should short at every positive movement in the market. Now, Next support would exist on 6800 for Nifty 50 whereas resistance would be seen at 7200 levels hence traders should continue to hold short positions until 7200 is breached in positive direction. Overall, Indian Stock Market is negative and it would continue to see further downfall in cyclic manner.

Few Large Companies Like Apollo Hospitals (NS: APLH ), BPCL, Canara Bank (NS: CNBK ), HPCL, IOC, M&M, Nestle India, NMDC (NS: NMDC ), Oil India (NS: OILI ) and Sun Pharma (NS: SUN ) would disclose their Q3 Results today and hence it would decide Indian Stock Market direction for today. FIIs were net sellers of Rs.1112.66 crores whereas DIIs were net buyers of Rs.1222.12 crores in last trading session. Nifty would see strong support at 6820-6700 whereas strong resistance would be seen at 7090-7200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results to be disclosed today: Adani Power (NS: ADAN ), Alok Industries (NS: ALOK ), Andhra Bank (NS: ADBK ), Apollo Hospitals, BPCL, Bhushan Steel (NS: BSSL ), Canara Bank, CEAT, Corporation Bank (NS: CRBK ), Godrej Industries (NS: GODI ), GVK Power (NS: GVKP ), HPCL, HMT, IDBI Bank (NS: IDBI ), IFCI (NS: IFCI ), IOC, MTNL, M&M, Manappuram Finance, MRPL, Nestle India, NMDC, Oil India, Punj Lloyd, Rolta India (NS: ROLT ), SKF India (NS: SKFB ), Sun Pharma, Sun TV and Suven Life Sciences.

NSE Nifty: (6976) The support for the Nifty is 6820-6700 and the resistance to the up move is at 7090-7200 levels.

NSE BankNifty: (14029) The support for BankNifty is at 13800-13660-13500-13200 and the resistance to the up move is at 14208-14323-14475 levels.

BSE Sensex 30 : (22952) The support for the Sensex is at 22780-22656-22440-22312 and the resistance to the up move is at 23204-23335-23510 levels.

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