Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with negative bias. EquityPandit predicted that market may see some short covering but it would be temporary in nature and traders should go short at every point in the market as a sharp breakdown would be seen. EquityPandit also predicted that levels of 15950 for BankNifty would soon be achieved in days to come and exactly same happened. Indian Stock Market fell down sharply and made new 52 week lows for Nifty and Sensex. Traders who followed EquityPandit’s advice to go short at every point in the market might have earned huge profits for the day. BankNifty also acheived EquityPandit’s targets of 15950 levels. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market would open negative. Today, some bounceback can be seen but technically, Indian Stock Market is still in negative zone and downside is still open. Next target for Bank Nifty is 15500 levels. Breaching levels of 7620 would force Nifty towards 7500 levels and if 7500 levels for Nifty is breached then 7320-7200 would be the next targets for Nifty. Traders should still continue to hold short until 7860 is breached on positive side, as there are no signs of market recovery as of now rather things are getting worser on global front. Adding to this, FIIs are still bigtime sellers in Indian Stock Market since year 2008. DIIs have been saving the market for sometime but would not be able to hold it longer. FIIs were net sellers of Rs.1287.12 crores whereas DIIs were net buyers of Rs.1128.70 crores in last trading session. Nifty would see strong support at 7576-7550-7500-7465 whereas strong resistance would be seen at 7690-7800-7880-7910 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: (7655) The support for the Nifty is 7576-7550-7500-7465 and the resistance to the up move is at 7690-7800-7880-7910 levels.

NSE BankNifty: (16129) The support for BankNifty is at 15950-15800-15500 and the resistance to the up move is at 16260-16500-16620-16740 levels.

BSE Sensex: (25202) The support for the Sensex is at 25020-24970-24890-24770 and the resistance to the up move is at 25350-25570-25880 levels.

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