Last Trading Session: As we said 5000 level would be strong support for Nifty and breaching that market would fall sharply, same happened and market closed with sharp negative trend and closed just above our support level of 4985.

Today: 4965 would remain strong support for market, and breaching this level would take market down sharply. Traders should take care of all the resistances and supports level given by us before making any trading decisions. Current market is not at all for traders as market move in any direction without any reason, Traders should wait and stay away till market settles down. Investor can buy at every dip without any worries as we see market in the band of 4700-5350 for next few months. Take care that buying should be done only when market is below 5000 for Nifty. So this is good time to go for some shopping in stocks with good fundamentals.

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BSE Sensex: (16617) The support for the Sensex is 16550-16410 and the resistance to the up move is at 16760.

NSE Nifty: (4987) The support for the Nifty is at 4967-4925-4890 and the resistance to the up move is at 5100-5165-5210.