Market To Consolidate But Go Short At Every Rally Until Nifty Holds Below 11336

Last Trading Session: Indian Stock Market opened gap positive as predicted by EquityPandit. EquityPandit predicted that the market would see a positive rally but traders can go short at rallies until Nifty holds below 11380. Indian Stock Market moved sharply positive and saw highs right at EquityPandit's predicted resistance levels of 38110 for Sensex and 11265 for Nifty like a dot. Market saw sharp downfall from there and saw lows right at EquityPandit's predicted support levels of 37740 for Sensex and 11145 for Nifty like a dot. Finally, Indian Stock Market rebounded from supports as predicted and managed to close positive for the day.

Market Today: Indian Stock Market would open flat. Technically, Indian Stock Market is still in a negative zone. Indian Stock Market would continue to consolidate and may see some positive movement but traders should not initiate fresh long positions until the market again enters into a positive zone. For now, the market is in a negative zone and traders should go short at every positive rally until the market holds below 11336 for Nifty and 22111 for BankNifty. Once the market closes above these levels then traders can go long in the market. Now analyze any stock yourself just in a few minutes with StockFact, a free but most powerful analysis tool

Nifty:


BankNifty:


FIIs were net buyers of Rs.332.90 crores whereas DIIs were net sellers of Rs.717.62 crores in the cash market for the last trading session. Nifty would see strong support at 11200-11145-11100-11085  whereas strong resistance would be seen at 11265-11308-11340-11390 levels. EquityPandit's support and resistance levels always meet accuracy and hence traders are suggested to follow them for good profits.

Important Results To Be Declared Today: HCL Tech, Britannia, ICICI Lombard, Hathway Cable (NS:HAWY) and Granules.

NSE Nifty: (11247) The support for the Nifty is 11200-11145-11100-11085-11024 and the resistance to the up move is at 11265-11308-11340-11390.

NSE BankNifty: (21701) The support for BankNifty is 21550-21350-21065-20878 and the resistance to the up move is 21862-22000-22385.

BSE Sensex: (38051) The support for the Sensex is 37880-37740-37600-37440 and the resistance to the up move is at  38180-38370-38402-38487 levels.