Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with less than 1 point positive for Nifty. EquityPandit predicted that Indian Stock Market may see sharp profit booking today but it would be an opportunity for traders to go long. Traders, who were able to go long at dip in last trading session would definitely book good profits today. Nifty saw strong resistance at Equitypandit’s predicted resistance levels of 8356 levels and fell down sharply to close right above EquityPandit’s predicted support levels of 8123 levels like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open 20-50 points positive for Nifty. Market would move positive today but today’s closing levels would decide further market direction. CPI Inflation cooled yesterday and that is definitely a positive news for Indian Economy but IIP Data fell shorter that would hinder upmove in the market. Now 8356 levels would act as strong resistance. Nifty need to breach those levels to make itself a perfect buy. Nifty, if closes above 8356 levels then traders can take long positions home. For now traders should go long in Nifty with strict stoploss of 8000 levels on closing basis. FIIs were net sellers of Rs.1329.43 crores whereas DIIs were buyers of 1331.93 crores in last trading session. Nifty would see strong support at 8123-8080-8000 whereas strong resistance would be seen at 8180-8270-8332-8356 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: ADANIENT, ANDHRACEMT, LUPIN, VRL Logistics.

Important data to be disclosed this week: WPI Inflation on Thursday.

NSE Nifty: (8127) The support for the Nifty is 8123-8080-8000 and the resistance to the up move is at 8180-8270-8332-8356 levels.

NSE BankNifty: (17629) The support for BankNifty is at 17500-17400-17200 and the resistance to the up move is at 17910-18000-18240 levels.

BSE Sensex: (26877) The support for the Sensex is at 26810-26675-26420 and the resistance to the up move is at 26900-27092-27200 levels.

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