Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with just 3 points negative for Nifty. EquityPandit predicted that market is still negative and 8123 would act as strong support for Nifty and exactly same happened. Nifty moved sharply negative and saw strong support near EquityPandit’s predicted support levels of 8123. BankNifty also closed right below EquityPandit’s predicted resistance levels of 18120 like a dot. Finally, Indian Stock Market closed flat for the day.

Today: Indian Stock Market to open positive with 10-30 points for Nifty. Technically, Analysis would remain same. Now, 8356 levels are strong deciding levels for the Nifty. If Nifty breaches these levels then an inverse Head & Shoulder pattern would be formed and that may take Nifty further positive with atleast 300 points. For now, Nifty is still negative. Now, 8080 and 8356 levels are strong support and resistance levels, which if breached on either side, would drag Nifty in that direction. Traders should wait for either of these levels to breach to capture the long trends in the market. April WPI Inflation Data fell for the sixth straight month and that is the positive news for Market. Now, Nifty has consolidated for long and we are looking for sharp movement on either side in days to come. FIIs were net sellers of Rs.73.76 crores whereas DIIs were buyers of Rs.304.57 crores in last trading session. Nifty would see strong support at 8123-8080-8000 whereas strong resistance would be seen at 8270-8332-8356 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: BFUTILITIE, CADILAHC, COX&KINGS, DENABANK, EDELWEISS, HDIL, INOXWIND, JISLJALEQS, JSWSTEEL, MANGALAM, NESTLEIND, OFSS, STINDIA, TATACOFFEE, TORNTPHARM, VIDEOIND.

NSE Nifty: (8224) The support for the Nifty is 8123-8080-8000 and the resistance to the up move is at 8270-8332-8356 levels.

NSE BankNifty: (18116) The support for BankNifty is at 17830-17650-17500 and the resistance to the up move is at 18120-18240-18585 levels.

BSE Sensex: (27206) The support for the Sensex is at 27000-26810-26675 and the resistance to the up move is at 27505-27604-27820 levels.

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