Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened positive. EquityPandit predicted that lower than expected Inflation numbers and higher than expected IIP data would take market positive where BankNifty would again enter into positive zone and traders should go long in BankNifty once it breaches levels of 18540 and exactly same happened. Indian Stock Market moved sharply positive on hopes of rate cut in next couple of days. BankNifty saw a sharp positive movement once it breached levels of 18540 and hence traders who followed EquityPandit’s advice to go long in Bank Nifty might have earned huge profits for the day.

Today: Indian Stock Market would open flat. Indian Stock Market has entered into positive zone. Some expectation of rate cut may hold the market for some time and the chances are in favor of that. If rate cut is seen by RBI, then sharp positive movement would be seen in BankNifty. Some Profit booking might be seen today but traders are suggested to go long in BankNifty at every dip in the market. FIIs were net buyers of Rs.403.76 crores whereas DIIs were net buyers of Rs.179.20 crores in last trading session. Nifty would see strong support at 8497-8450-8380 whereas strong resistance would be seen at 8561-8616-8655-8700 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Click Here to Read Nifty and Major Stocks Outlook for This Week 

NSE Nifty: (8519) The support for the Nifty is 8497-8450-8380 and the resistance to the up move is at 8561-8616-8655-8700 levels.

NSE BankNifty: (18724) The support for BankNifty is at 18590-18449-18300 and the resistance to the up move is at 18830-18940-19067 levels.

BSE Sensex: (28067) The support for the Sensex is at 27895-27735-27640 and the resistance to the up move is at 28162-28265-28550 levels.

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