Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that market would open flat and would see strong resistance at 8845 levels for Nifty where we could see some profit booking that would be temporary in nature and traders should utilize that dip to go long and exactly same happened. Nifty moved sharply positive and saw highs right at EquityPandit’s predicted resistance levels of 8845 like a dot. BankNifty also saw strong resistance at EquityPandit’s predicted resistance levels of 19052 levels. Finally, Indian Stock Market saw a sharp downtrend and closed gap negative for the day.

Today: Indian Stock Market to open positive. Technically, Indian Stock Market should see some further profit booking. Now 8845 levels would be considered as strong resistance levels and if Nifty doesn’t breaches this resistance then a sharp downfall can be seen in days to come. Traders can short at higher levels with 8845 as strict stoploss for Nifty. Crude Oil has seen a breakout that would benefit Indian giants like Reliance, ONGC, etc that may take Nifty positive for timebeing. Indian IT Giant TCS would disclose its FY15 results today that would decide further direction for the day. FIIs were net buyers of Rs.108 crores whereas DIIs were net sellers of Rs.60.18 crores in last trading session. Nifty would see strong support at 8700-8677-8640 whereas strong resistance would be seen at 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: (8750) The support for the Nifty is 8700-8677-8640 and the resistance to the up move is at 8845-8880 levels.

NSE BankNifty: (18716) The support for BankNifty is at 18645-18517-18400 and the resistance to the up move is at 19052-19175-19441 levels.

BSE Sensex: (28800) 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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