Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened 75 points positive. EquityPandit predicted that Indian Stock Market would see a sharp bounceback and traders should trade long for the day and exactly same happened. Indian Stock Market saw a sharp bounce back and traders who followed EquityPandit’s advice to go long might have earned huge profits for the day. Finally, Indian Stock Market closed gap positive for the day.

Today: Indian Stock Market to open gap positive with 20-50 points for Nifty. Market is still in negative trend but further short-covering would be seen in the market. Nifty just closed below our reversal levels of 8193 for Nifty. So, If market closes above these levels today, then traders can take long positions home without worries. Few data, like CPI Inflation, IIP and WPI Inflation would be disclosed this week that would affect Indian Stock Market further direction. FIIs are still seeing outflows in Indian Stock Market and looking for other markets like China to park their money, which is a negative news for the market at this point of time. FIIs were net sellers of Rs.437.56 crores whereas DIIs were buyers of 1114.38 crores in last trading session. Nifty would see strong support at 8123-8050-8000 whereas strong resistance would be seen at 8270-8350-8415 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: ADANIPOWER, BANKBARODA, HAVELLS, MAHINDCIE, SRF and TAJGVK.

Important data to be disclosed this week: CPI Inflation and IIP on Tuesday, WPI Inflation on Thursday.

NSE Nifty: (8192) The support for the Nifty is 8123-8050-8000 and the resistance to the up move is at 8270-8350-8415 levels.

NSE BankNifty: (17797) The support for BankNifty is at 17768-17600-17380 and the resistance to the up move is at 18052-18150-18357 levels.

BSE Sensex: (27105) The support for the Sensex is at 27032-26900-26810 and the resistance to the up move is at 27320-27500-27620 levels.

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