Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that market would see further profit booking and traders can go short at higher levels with 8845 as strict stoploss for Nifty and exactly same happened. Traders who followed EquityPandit’s advice to go short might have earned huge profits for the day. 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 Traders can short at higher levels with 8845 as strict stoploss for Nifty which would act as major near-term resistance for Nifty. BankNifty has also entered into negative region and one can go short in BankNifty as well. Reliance posted best quarterly results in last 7 years and hence can see sharp positive movement that can boost Nifty as well. Some short covering can be seen in the market but it would be an opportunity to short in the market. FIIs were net sellers of Rs.675.71 crores whereas DIIs were net buyers of Rs.72.52 crores in last trading session. Nifty would see strong support at 8575-8540-8516 whereas strong resistance would be seen at 8670-8700-8760 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: HindZinc, TataSponge, Persistent, Ramcosys.

NSE Nifty: (8606) The support for the Nifty is 8575-8540-8516 and the resistance to the up move is at 8670-8700-8760 levels.

NSE BankNifty: (18345) The support for BankNifty is at 18270-18211-18110 and the resistance to the up move is at 18520-18625-18730 levels.

BSE Sensex: (28442) The support for the Sensex is at 28374-28200-28130-28031 and the resistance to the up move is at 28480-28615-28700 levels.

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