Last Trading Session:  Indian Stock Market opened negative for the day. EquityPandit predicted that Indian Stock Market is still in negative zone but would see some short covering for the day where traders should go short in the market and exactly same happened. Indian Stock Market saw some short covering in early trade but then fell down sharply closing below 8400 mark. Traders, who followed EquityPandit’s advice to go short might have earned huge profits for the day. Finally, Indian Stock Market closed gap negative for the day.

Today: Indian Stock Market to open negative. Technically, Indian Stock Market is still in negative region and is seeing stiff resistance at higher levels. Next target for market is 8330 and 8270. Market can now definitely see some short covering after consecutive downtrends. 8470 would act as strong resistance for Nifty. If Nifty breaches levels of 8265 by closing then we could see a further downfall in the market. Sunpharma saw open selling in the market and hence FIIs were net buyers of Rs.17488.73 crores whereas DIIs were buyers of 1364.83 crores in last trading session. Nifty would see strong support at 8325-8265-8250 whereas strong resistance would be seen at 8470-8560-8600 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Important Results to be declared today: Mastek, Rallis and Yesbank.

NSE Nifty: (8378) The support for the Nifty is 8325-8265-8250 and the resistance to the up move is at 8470-8560-8600 levels.

NSE BankNifty: (18105) The support for BankNifty is at 17950-17770-17720 and the resistance to the up move is at 18330-18427-18500 levels.

BSE Sensex: (27676) The support for the Sensex is at 27560-27384-27245 and the resistance to the up move is at 27920-28070-28270 levels.

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