Last Trading Session: Indian Stock Market opened positive exactly as predicted. EquityPandit predicted that Indian Stock Market may bounce back but traders should continue to hold short positions until Nifty below 11351 and exactly the same happened. Indian Stock Market opened gap positive but saw strong resistance right near EquityPandit’s predicted resistance levels of 11265 for Nifty. Market fell down sharply form there and saw lows right at EquityPandit’s predicted support levels of 11024 like a dot. Traders, who followed EquityPandit’s advice might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day.
Market Today: Indian Stock Market would open negative. Now, Nifty and BankNifty are still in the negative zone. Analysis would still remain the same. Today is F&O Expiry and we would see huge volatility in the market. Market would enter into a positive zone only if it closes above 11305 for Nifty and 21644 for Bank Nifty but until then traders can continue to hold short positions. Nifty has witnessed strong support in 11000-11100 region and some short covering can’t be ruled out but overall market is bearish until Nifty and BankNifty closes above 11305 and 21644 respectively and traders can go short near resistances with stoplosses above reversal levels on closing basis.
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FIIs were net sellers of Rs.3912.44 crores whereas DIIs were net buyers of Rs.1629.23 crores in the cash market for the last trading session. Nifty would see strong support at 11100-11085-11024-11000 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: (11132) The support for the Nifty is 11100-11085-11024-11000 and the resistance to the up move is at 11215-11265-11308-11340.
NSE BankNifty: (21179) The support for BankNifty is 21065-20878-20745-20620 and the resistance to the up move is 21380-21560-21715-21862.
BSE Sensex: (37668) 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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