Last trading session: As predicted by us Indian Market opened with gap up and went down sharply. Overall market was quite volatile.

Today: Today Indian stock market would open with big gap down. A strong resistance level would be 4900 for Nifty. Market can see sharp uptrend to trap all shorts. So be cautious. 

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BSE Sensex: (16741) The support for the Sensex is 16500 and the resistance to the up move is at 17000.

NSE Nifty: (4971) The support for the Nifty is at 4950 and the resistance to the up move is at 5050-5100.