Market Still Bearish, Go Short At Every Positive Rally Until Nifty Below 11543

  • Stock Market Analysis

Last Trading Session: Indian Stock Market opened gap negative exactly as predicted by EquityPandit. EquityPandit predicted that the market would see a sharp downfall as BankNifty entered into a negative zone. EquityPandit also predicted that traders who followed Equitypandit's suggestion and went short in BankNifty would earn huge profits and exactly the same happened. Traders who went short in BankNifty on EquityPandit's suggestion might have earned huge profits for the day. Market saw lows right at EquityPandit's predicted support of 11300 for Nifty like a dot. Axis Bank, Tata Steel and SBI Share Price saw the major downfall. Finally, Indian Stock market closed gap negative for the day.

Market Today: Indian Stock Market would open negative. Technically, Indian Stock Market is still in a negative zone and we may continue to see a downfall in days to come. Market would enter into a positive zone once it closes above 11543 for Nifty and 23833 for BankNifty but until then traders should continue to hold short positions and can go short at every positive rally in the market. Traders and Investors can analyze any stock themselves just in a few minutes with StockFact, a free but most powerful analysis tool by EquityPandit.

Nifty:
NIFTY Prediction - EquityPandit

BankNifty:

BANKNIFTY Prediction -EquityPandit

FIIs were net sellers of Rs.1888.78 crores whereas DIIs were net sellers of Rs.456.88 crores in the cash market for the last trading session. Nifty would see strong support at 11274-11235-11165-11100 whereas strong resistance would be seen at 11390-11430-11455-11505 levels. EquityPandit's support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

NSE Nifty: (11334) The support for the Nifty is 11274-11235-11165-11100 and the resistance to the up move is at 11390-11430-11455-11505.

NSE BankNifty: (23012) The support for BankNifty is 22870-22770-22615-22515-22375 and the resistance to the up move is 22110-23240-23440-23605.

BSE Sensex : (38357) The support for the Sensex today is 38265-38227-38100-37875 and the resistance to the up move is at 38487-38635-38700-38747 levels.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100

Related Articles