Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that market can see some short covering but overall Nifty and BankNifty has entered into negative zone and traders should go short at every positive movement in the market and exactly same happened. Indian Stock Market crashed with around 180 points on intraday for Nifty and 350 points for BankNifty and traders who followed EquityPandit advice to go short in Nifty and BankNifty might have earned huge profits for the day. BankNifty saw strong resistance right at EquityPandit’s predicted resistance levels of 18520 and closed right above EquityPandit’s predicted support levels of 18110 like a dot. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market should see some further profit booking and Market is still in negative region and traders should still continue short with caution as some short covering can’t be ruled out after consecutive days of downfall. But overall, Indian Stock Market would continue the negative streak as no strength is seen in the market. Now 8600 should be considered as strong resistance levels for Nifty. Now, BankNifty would have to perform to bring market into positive territory. Few IT Giants like HclTech and Wipro would disclose their annual results today and that would affect Indian Stock Market for the day. FIIs were net sellers of Rs.1506.86 crores whereas DIIs were buyers of 962.50 crores in last trading session. Nifty would see strong support at 8400-8325-8265 whereas strong resistance would be seen at 8560-8600-8670 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: HCLTech, Persistent and Wipro.

NSE Nifty: (8448) The support for the Nifty is 8400-8325-8265 and the resistance to the up move is at 8560-8600-8670 levels.

NSE BankNifty: (18113) The support for BankNifty is at 17950-17770-17720 and the resistance to the up move is at 18300-18427-18500 levels.

BSE Sensex: (27886) The support for the Sensex is at 27710-27560-27384 and the resistance to the up move is at 27952-28070-28270 levels.

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