Indian Market Enters Negative Zone, Go Short At Every Positive Rally

Last Trading Session: Indian Stock Market opened flat exactly as predicted. EquityPandit predicted that Indian Stock Market would see sideways movement. EquityPandit also predicted that some profit booking would also be seen in the market until BankNifty closes above 27165 levels and exactly same happened. Indian Stock Market saw sharp profit booking after opening and saw lows right above EquityPandit’s predicted support levels of 10921. As predicted by Equitypandit, Indian Stock Market has entered into negative zone and EquityPandit suggested traders to initiate fresh short positions. Finally, Indian Stock Market breached EquityPandit’s predicted reversal levels and closed gap negative for the day. Sensex also closed right at EquityPandit’s predicted support levels of 36320 like a dot.

Today: Indian Stock Market would open flat with negative bias. Technically, Indian Stock Market including, Nifty, BankNifty and sensex have entered into negative zone. Market can see further downfall in upcoming days. Traders should continue to hold short positions or go short at every positive movement in the market. Now, 11005-11067 would act as strong resistance for Nifty. Traders should continue to hold long positions until Nifty holds below 11060 on closing basis. Next logical target for Nifty is set to 10880-10815. Overall, Indian Stock Market has initiated negative trend and traders should continue to hold short positions in the market.

FIIs were net sellers of Rs.625.68 crores whereas DIIs were net sellers of Rs.70.30 crores in cash market for last trading session. Nifty would see strong support at 10880-10836-10800-10780 whereas strong resistance would be seen 11005-11067 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

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Important Q1 results to be disclose today: Ashok Leyland, CRISIL, Federal Bank, ICICI Lombard General Insurance, Jindal Stainless, Rallis India and Zee Entertainment Enterprises Ltd.

Stocks In F&O Ban Period: JETAIRWAYS.

NSE Nifty: (10937) The support for the Nifty is 10880-10836-10800-10780 and the resistance to the up move is at 11005-11067 levels.

NSE BankNifty: (26680) The support for BankNifty is at 26600-26500-26440-26365 and the resistance to the up move is at 26818-26865-27000 levels.

BSE Sensex: (36324) The support for the Sensex is at 36280-36214-36100-36065 and the resistance to the up move is at 36380-36450-36540-36660 levels.

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