Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened 30 points positive for Nifty. EquityPandit predicted that 8500 is important closing levels and if Nifty manage to close above those levels then we could see sharp positive movement in days to come but Nifty was not able to breach EquityPandit’s closing resistance levels of 8500. Indian Stock Market saw strong intraday resistances at EquityPandit’s predicted resistance levels of 8605 for Nifty, 28250 for Sensex and 18225 levels for Banknifty. Finally, Indian Stock Market closed marginal negative for the day.

Today: Indian Stock Market to open flat. Technically, 8500 is a strong closing resistance levels for Nifty and if Nifty is able to close above those levels then only we can consider it a positive market. Indian Stock Market is in rangebound region and it would consolidate with some sideways movement. We have long weekend and hence we suggest traders not to take any open position for Monday. Overall, market looks positive for now. FIIs were net buyers of Rs.356.07 crores whereas DIIs were net buyers of Rs.283.71 crores on Monday. Nifty would see strong support at 8400-8325 whereas strong resistance would be seen at 8500-8550-8605-8630 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8491) The support for the Nifty is 8400-8325 and the resistance to the up move is at 8500-8550-8605-8630 levels.

NSE BankNifty: (18207) The support for BankNifty is at 18140-18045-17728 and the resistance to the up move is at 18500-18595-18690 levels.

BSE Sensex: (27957) The support for the Sensex is at 27920-27760-27620 and the resistance to the up move is at 28250-28385-28460 levels.

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