Last trading session,Indian Stock Market opened flat.Nifty has already entered into negative zone. Market looks weak, so traders can go short at every positive rally in the market and exactly same happened. Indian Stock Market opened flat and moved positive but was not able to sustain higher levels. Market fell down from day highs. Market remained rangebound and Sensex saw lows.Support levels of 26450 like a dot. Traders, who followed advice to go short at every positive rally, might have earned huge profits. Finally, Indian Stock Market closed negative.
From today Indian Stock Market would open negative. Now, Nifty is already in negative zone and BankNifty would also enter into negative zone once it closes below 18255 levels. Traders can go short at every positive rally in the market as of now. Anyways, market would remain rangebound due to lack of volumes as FIIs would be in holiday mood.We doesn’t expect any big movement in the market for next couple of days and market would see next decisive trend in the first week of January 2017. For now, traders can go short at every positive movement in the market.
FIIs were net sellers of Rs.90.36 crores whereas DIIs were net buyers of Rs.30.48 crores in cash market for last trading session. Nifty would see strong support at 8100-8077-8050-8000 whereas strong resistance would be seen at 8200-8230-8265-8280-8310 levels. Since,support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.