Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap positive with around 40 points for Nifty. EquityPandit predicted that would see sharp short covering but again strong resistance would be seen at 8500 levels and exactly same happened. EquityPandit predicted that if Nifty closes above 8470 levels then Nifty would see sharp positive movements in days to come but Nifty closed below those levels. BankNifty also saw strong resistance at EquityPandit’s predicted resistance levels of 18427. Finally, Indian Stock Market closed negative for the day.

Today: Indian Stock Market to open positive with 10-40 points for Nifty. Technically, analysis would remain same. Indian Stock Market is still in negative region but now, today’s movement would suggest further direction of the market. Nifty if breaches levels of 8270 by closing, then it would see sharp downfall whereas if Nifty closes above 8470 levels then next targets would be 8550 levels. BankNifty, if closes above 18455 levels then it would again come into positive zone and would see sharp breakout in upcoming days. Infosys results would be declared today that would decide further direction for the market. FIIs were net sellers of Rs.276.83 crores whereas DIIs were buyers of 559.60 crores in last trading session. Nifty would see strong support at 8325-8265-8250 whereas strong resistance would be seen at 8470-8505-8560-8600 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: IBULHSGFIN, INFOSYS and SIEMENS.

NSE Nifty: (8398) The support for the Nifty is 8325-8265-8250 and the resistance to the up move is at 8470-8505-8560-8600 levels.

NSE BankNifty: (18246) The support for BankNifty is at 17950-17770-17720 and the resistance to the up move is at 18330-18427-18500 levels.

BSE Sensex: (27735) The support for the Sensex is at 27560-27384-27245 and the resistance to the up move is at 28030-28185-28270 levels.

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