Last Trading Session: Exactly as predicted by EquityPandit, Indian Stock Market opened gap negative. EquityPandit predicted that market is still in negative zone but further downtrend would be seen only if Nifty closes below 7730 levels. EquityPandit also predicted that Nifty has technically, developed a Doji Candlestick pattern, hence some short covering can’t be ruled out and exactly same happened. Market saw downtrend but rebounded from the lows. Bank Nifty saw highs right at EquityPandit’s predicted resistance levels of 17240. Sensex also saw highs right at EquityPandit’s predicted resistance levels of 25870 like a dot. Finally, Nifty closed gap positive, right near EquityPandit’s predicted resistance levels of 7805.

Today: Indian Stock Market would open gap positive. Technically, Bank Nifty has entered into positive zone but Nifty is still in negative zone. Today, Some further positive movement would force Nifty also to enter into positive zone and in that case we would witness a sharp breakout in the market. Nifty needs to breach levels of 7850 by closing to see some strength. Traders can go long in Nifty and Bank Nifty at every dip in the market. Overall, the trade is in long side for now. FIIs were net sellers of Rs.1051.26 crores whereas DIIs were net buyers of Rs.661.71 crores in last trading session. Nifty would see strong support at 7780-7750-7730-7680 whereas strong resistance would be seen at 7850-7880-7927-7950 levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

 Click Here to Check the Trend Of Major Indices and Stocks

NSE Nifty: (7807) The support for the Nifty is 7780-7750-7730-7680 and the resistance to the up move is at 7850-7880-7927-7950 levels.

NSE BankNifty: (17185) The support for BankNifty is at 17080-16960-16875-16750 and the resistance to the up move is at 17240-17480-17570 levels.

BSE Sensex: (25760) The support for the Sensex is at 25695-25590-25500-25380 and the resistance to the up move is at 25870-26000-26060-26180 levels.

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