Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat. EquityPandit predicted that market has entered into positive zone and would consolidate or hold in the current region for now. EquityPandit also suggested traders to go long in BankNifty at every dip in the market to earn good profits and exactly same happened. Nifty consolidated in a rangebound region as predicted by EquityPandit. BankNifty fell down sharply after opening giving the opportunity to traders to go long as suggested by EquityPandit. BankNifty remained strong and bounced from day lows to see intraday highs. Traders who followed EquityPandit’s suggestion to go long might have earned huge profits for the day. Sensex and BankNifty saw lows right near EquityPandit’s predicted support levels of 27735 and 18590, respectively. BankNifty closed right below EquityPandit’s predicted resistance levels of 18830 for the day. Finally, Nifty and Sensex closed in negative region with BankNifty showing some positive signs.

Today: Indian Stock Market would open positive. Indian Stock Market is in positive zone. Indian Stock Market and especially BankNifty is holding current levels in expectation of RBI cutting the key rates in upcoming days. If rate cut is seen by RBI, then sharp positive movement would be seen in BankNifty. Traders are suggested to go long in BankNifty at every dip in the market for now. Market will fall down sharply if no rate cut is seen in upcoming days. Traders should note that Medium-term trend of BankNifty is negative and this can be an alarming situation but for now it would continue to move positive. FIIs were net buyers of Rs.142.34 crores whereas DIIs were net buyers of Rs.183.72 crores in last trading session. Nifty would see strong support at 8450-8380-8335 whereas strong resistance would be seen at 8530-8561-8616-8655 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: (8477) The support for the Nifty is 8450-8380-8335 and the resistance to the up move is at 8531-8561-8616-8655 levels.

NSE BankNifty: (18822) The support for BankNifty is at 18580-18449-18300 and the resistance to the up move is at 18940-19067-19230 levels.

BSE Sensex: (27878) The support for the Sensex is at 27735-27640-27475 and the resistance to the up move is at 28100-28162-28265-28550 levels.

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