Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that market would see some further profit booking with strong support at 8640 levels for Nifty and traders should trade short with strict stoploss of 8645 levels for Nifty and exactly same happened. Nifty moved sharply negative and saw lows right at EquityPandit’s predicted support levels of 8640 levels. BankNifty also saw strong supports at EquityPandit’s predicted support levels of 18517 levels. Traders, who followed EquityPandit’s advice to go short in the market might have earned huge profits for the day. Finally, Indian Stock Market closed negative for the day just above EquityPandit’s predicted support levels of 8700 for Nifty.

Today: Indian Stock Market to open flat. Technically, Indian Stock Market should see some further profit booking and Traders can short at higher levels with 8845 as strict stoploss for Nifty which would act as major near-term resistance for Nifty. Indian IT Giant TCS results were not as per street expectations and hence some profit booking can be seen in IT companies. BankNifty is still in positive region and trend would change to negative once it closes below 18500 levels. Indian Major Reliance Industries would disclose its annual results today that would affect Indian Stock Market. FIIs were net sellers of Rs.214.36 crores whereas DIIs were net buyers of Rs.432.27 crores in last trading session. Nifty would see strong support at 8700-8640-8575 whereas strong resistance would be seen at 8760-8845-8880 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (8707) The support for the Nifty is 8700-8640-8575 and the resistance to the up move is at 8760-8845-8880 levels.

NSE BankNifty: (18637) The support for BankNifty is at 18500-18400 and the resistance to the up move is at 18730-18890-19052 levels.

BSE Sensex: (28666) The support for the Sensex is at 28620-28546-28374 and the resistance to the up move is at 28965-29072-29154 levels.

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