Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. Indian Stock Market consolidated in a small range. EquityPandit’s predicted that Nifty would see strong support at 8550 levels and exactly same happened. Nifty moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 8550. Nifty, Sensex and BankNifty consolidated between EquityPandit’s predicted support and resistance levels. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market would open negative. Market would still consolidate with in small range and would see sideways movement. Some profit booking can’t be ruled out at this point of time. Market is still in positive zone and traders should continue to hold long positions for now. Breaching levels of 19110 would push BankNifty to achieve targets of 19200-19400. 8500 is important level to watch out for, breaching which Nifty would fell down sharply. One can continue to go long in Nifty stocks until Nifty holds 8500 levels. FIIs were net sellers of Rs.93.74 crores whereas DIIs were net buyers of Rs.34.08 crores in last trading session. Nifty would see strong support at 8500-8500-8450-8410 whereas strong resistance would be seen at 8616-8650-8700 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: ADANIPORTS, ADANIPOWER, ASHIANA, CHAMBLFERT, CHENNPETRO, ECLERX, ENGINERSIN, FINCABLES, GMDCLTD, HDIL, HERCULES, HMT, IL&FSTRANS, ISMTLTD, J&KBANK, JISLJALEQS, LAXMIMACH, POWERGRID, TUBEINVEST, WOCKPHARMA and WPIL.

NSE Nifty: (8565) The support for the Nifty is 8550-8500-8450-8410 and the resistance to the up move is at 8616-8650-8700 levels.

NSE BankNifty: (18894) The support for BankNifty is at 18780-18620-18475 and the resistance to the up move is at 19110-19200-19400 levels.

BSE Sensex: (28236) The support for the Sensex is at 28060-27980-27814-27700 and the resistance to the up move is at 28480-28578-28641 levels.

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