Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive. EquityPandit predicted that Nifty would open gap positive and would now see sharp short covering (Profit Booking), where BankNifty would lead the market and exactly same happened. Indian Stock Market moved sharply positive led by BankNifty. Nifty saw highs right at EquityPandit’s predicted resistance levels of 8500 like a dot and closed just below those levels. Sensex also saw highs right at EquityPandit’s predicted resistance levels of 28000 and closed just below those resistance levels. BankNifty also saw highs right at EquityPandit’s predicted resistance levels of 18380 levels and closed just below those levels. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market to open 10-30 points positive. Now, it looks that the downfall has been over for the near term and we could see some positive rally in days to come. Traders are suggested to go long in the market, if Nifty manage to close above 8500 levels for Nifty. FIIs were net sellers of Rs.240.34 crores whereas DIIs were net buyers of Rs.651.67 crores on Monday. Nifty would see strong support at 8400-8325 whereas strong resistance would be seen at 8605-8630-8670 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8492) The support for the Nifty is 8400-8325 and the resistance to the up move is at 8605-8630-8670 levels.

NSE BankNifty: (18362) The support for BankNifty is at 18225-18140-18045 and the resistance to the up move is at 18595-18690-18780 levels.

BSE Sensex: (27976) The support for the Sensex is at 27920-27760 and the resistance to the up move is at 28250-28385-28460-28580 levels.

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