Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with 9 points negative for Nifty. EquityPandit predicted that 7940 would act as strong support for Nifty whereas 8100 would act as strong resistance, breaching any level out of these two, would force market to move sharply in that direction and exactly same happened. Nifty consolidated between EquityPandit’s predicted support and resistance levels and was not able to breach any of these two levels. BankNifty closed right on EquityPandit’s predicted resistance levels of 17600 and Nifty closed just below EquityPandit’s support levels of 8052 in last trading session. Finally, Indian Stock Market closed positive for the day.

Today: Indian Stock Market to open gap positive with 15-40 points for Nifty. Technically, Indian Stock Market is still in negative trend. Nifty and BankNifty would enter positive trend if it closes above 8092 and 17740 respectively. And if so happens, traders can go long in Nifty and BankNifty. For Now, 7940 would act as strong support whereas 8100 would still act as strong resistance. Breaching any level out of these two, would force market to move sharply in that direction. FIIs are still selling in Indian Markets and has already seen outflows of Rs.5543.28 crores in last 15 days. FIIs were net sellers of Rs.521.65 crores whereas DIIs were buyers of Rs.644.81 crores in last trading session. Nifty would see strong support at 7997-7940-7924 whereas strong resistance would be seen at 8100-8142-8165-8200 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits. Click Here to Get Market Outlook for Nifty and all Major Indices this week.

NSE Nifty: (8047) The support for the Nifty is 7997-7940-7924 and the resistance to the up move is at 8100-8142-8165-8200 levels.

NSE BankNifty: (17602) The support for BankNifty is at 17470-17330-17200 and the resistance to the up move is at 17745-17822-17980 levels.

BSE Sensex: (26687) The support for the Sensex is at 26540-26300-26220 and the resistance to the up move is at 26780-26940-27030 levels.

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