Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that Nifty is still in negative region but some short covering can’t be ruled out and if Nifty breaches levels of 8280 by closing then we could see some further positive trends in upcoming days and exactly same happened. Nifty moved negative but arrested the downmove and rebounded from 8185 levels. Nifty saw sharp short covering rally and closed just above EquityPandit’s levels of 8280 for Nifty. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 18330 levels. Sensex also closed right at EquityPandit’s predicted resistance levels of 27395 like a dot. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market is still in negative region but now it looks like Nifty would see some sharp short covering (Positive rally) in days to come. Now next target for Nifty is 8385 levels. Important levels to look is 8185 levels, which if breached, Nifty would continue to see sharp downfall else we can now see a fresh positive rally. Traders should trade long with strict stoploss at 8185 levels for Nifty. Few important results like Axisbank, HDFC, Ambuja Cement, Biocon and SSLT are going to be desclosed today and that would surely decide Indian Stock Market further direction. FIIs are continuously seeing outflows in Indian Stock Market that is causing an alarming situation for Indian economy. FIIs were net sellers of Rs.1532.84 crores whereas DIIs were buyers of 1537.08 crores in last trading session. Nifty would see strong support at 8185-8147-8100 whereas strong resistance would be seen at 8335-8385-8415 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results to be declared today: AMBUJACEM, AXISBANK, BIOCON, DHFL, FEDERALBNK, HDFC, HEXAWARE, RAYMOND, SHREECEM, SSLT, TATAMETALI and TVSMOTOR.

NSE Nifty: (8286) The support for the Nifty is 8185-8147-8100 and the resistance to the up move is at 8335-8385-8415 levels.

NSE BankNifty: (18246) The support for BankNifty is at 18093-18920-17765 and the resistance to the up move is at 18330-18427-18500 levels.

BSE Sensex: (27396) The support for the Sensex is at 27091-26937-26776 and the resistance to the up move is at 27480-27570-27660 levels.

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