Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened flat with positive bias. EquityPandit predicted that market would consolidate in a rangebound region and may see some choppiness for the day and exactly same happened. Indian Stock Market consolidated between EquityPandit’s predicted support and resistance levels of 8540 and 8643 respectively. BankNifty also closed just above EquityPandit’s predicted support levels of 19020. Sensex also consolidated exactly between EquityPandit’s support and resistance levels of 28325 and 28530 levels respectively. Finally, Indian Stock Market closed flat with negative bias.

Today: Infosys results would be disclosed at 8:45 AM today before market hours and Indian Stock Market would open based on the Infy results. Today, results of other major Indian companies like Asian Paints, HDFC Bank, Hindustan Unilever, Eicher Motors, etc are going to be disclosed that would affect Indian Stock Market direction. Technically, Analysis would still remain same and Market is still in positive trend. Closing below levels of 18900 for BankNifty would confirm trend reversal and traders should go short in that case, till then BankNifty is in positive trend. The major trendline of resistance for Nifty is at 8800 and BankNifty is at 19400. Nifty if ends this month above 8800 then we could see a sharp bull trend in months to come that may take Indian Market to new highs. Traders can continue to hold long positions but can remain cautious near 8800 levels for Nifty and 19400-19500 levels for BankNifty because there is a some probability of short-term reversal from those levels. Government is expected to push some major reforms in upcoming parliamentry session and if so happens, that would be the major trigger for the sharp positive movement in the market. FIIs were net buyers of Rs.714.4 crores whereas DIIs were net sellers of Rs.848.76 crores in last trading session. Nifty would see strong support at 8570-8540-8470 whereas strong resistance would be seen at 8643-8710-8741 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 

Important Results To Be Declared Today: ASIANPAINT, CAIRN, EDELWEISS, EICHERMOT, HDFCBANK, HINDUNILVR, IBULHSGFIN, IDEA, INFY, SANOFI, SKFINDIA, TATASPONGE and WHIRLPOOL.

NSE Nifty: (8603) The support for the Nifty is 8570-8540-8470 and the resistance to the up move is at 8643-8710-8741 levels.

NSE BankNifty: (19033) The support for BankNifty is at 18984-18865-18734 and the resistance to the up move is at 19376-19440-19535 levels.

BSE Sensex: (28420) The support for the Sensex is at 28325-28245-28080 and the resistance to the up move is at 28530-28641-28765 levels.

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