Last Trading Session: Indian Stock Market opened flat for the day. EquityPandit predicted that Indian Stock Market is still in negative trend and trade is only in short side. EquityPandit also suggested traders to go short or hold their short positions for now and exactly same happened. Indian Stock Market moved positive but fell down sharply from there. Nifty saw lows right near EquityPandit’s predicted support levles of 8315 levels and remained rangebound between EquityPandit’s predicted support and resistance levels of 8315 and 8410 levels respectively. Finally, Market closed negative for the day.

Today: Indian Stock Market would open flat. Technically, some short covering can’t be ruled out after many days of choppiness but Indian Stock Market is still in negative trend. Trade is only in short side. Traders should go short at every positive movement in the market. Some strength is seen in PSU Banks on expectation of rate cut by RBI in coming RBI Policy that would take Nifty and BankNifty little higher and it would be a perfect opportunity for traders to go short for now. The next logical target for Nifty is 8250 and BankNifty is 18000. FIIs were net sellers of Rs.1375.66 crores whereas DIIs were net buyers of Rs.665.05 crores in last trading session. Nifty would see strong support at 8315-8244-8200 whereas strong resistance would be seen at 8410-8450-8500 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Read Nifty and Major Stocks Outlook for This Week 

Important Results To Be Declared Today: ALBK, DABUR, ESSAROIL, GODREJCP, HEG, IIFL, JSWSTEEL, MPHASIS, NESTLEIND, NHPC, UPL, VEDL and YESBANK.

NSE Nifty: (8337) The support for the Nifty is 8315-8244-8200 and the resistance to the up move is at 8410-8450-8500 levels.

NSE BankNifty: (18282) The support for BankNifty is at 18080-17980-17800 and the resistance to the up move is at 18320-18410-18560 levels.

BSE Sensex: (27459) The support for the Sensex is at 27360-27140-27030 and the resistance to the up move is at 27710-27850-27940 levels.

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