Market To See Further Downfall, Continue To Hold Short Positions For Now

Market To See Further Downfall, Continue To Hold Short Positions For Now

Last Trading Session: Indian Stock Market opened gap negative as predicted. EquityPandit predicted that the Indian Stock Market would see sharp profit booking (negative movement) and traders should initiate fresh short positions if the market closes below 14683 for and 32858 for BankNifty and exactly the same happened. Indian Stock Market sharply negative and saw strong support right at EquityPandit’s predicted support levels of 14608. Finally, the Indian Stock Market closed the gap negative for the day.

Today: Indian Stock Market would open gap negative. Technically, both Nifty and BankNifty have entered into the negative zone. Indian Stock Market is bearish for now and traders can hold short positions for now. The market may see further downfall and traders can go short at every positive movement in the market. Traders and Investors can analyze any stock themselves just in a few minutes at www.stockfact.in, a free but most powerful analysis tool by EquityPandit.

Nifty:

Market To See Further Downfall, Continue To Hold Short Positions For Now
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FIIs were net sellers of Rs.3465.07 crores whereas DIIs were net buyers of Rs.1419.31 crores in the cash market for the last trading session. Nifty would see strong support at 14601-14540-14470-14365 whereas strong resistance would be seen at 14715-14770-14818-14880 levels. EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (14631) The support for the Nifty is 14601-14540-14470-14365 and the resistance to the up move is at 14715-14770-14818-14880 levels.

NSE BankNifty: (32782) The support for BankNifty is 32540-32365-32270-32110 and the resistance to the up move is 32888-33075-33240-33380 levels.

: (48782) The support for the Sensex is 48660-48506-48440-48365 and the resistance to the up move is at 49075-49170-49315-49380-49515 levels.

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By Ankita Dixit

Hi, my name is Ankita Dixit. I started writing from young age and most of my writing skills and knowledge are self taught. Currently, I am working as a professional writer at Paisa.co. I have write on various topics including travel, motivation, finance, technology, credit cards, insurance and entrepreneurship etc.