Last Trading Session: Exactly as predicted by EquityPandit, that market would open flat but it is still and can again see level of 4800-4775 getting touched and and in worst condition getting breached.  Market opened flat, touched near EquityPandit’s predicted resistance levels of 4900, rebounded from there and has breached EquityPandit’s predicted support level which resulted in huge panic selling and Nifty closed at 4748.

Today: Market likely to open positive. But can see profit booking at higher levels. Technically market is weak and can see levels of 4675 for Nifty getting breached (which is the low of year 2010), if we don’t see any good news in economy globally. Immediate resistance for Nifty would be 4900. Some reaction (Positive trends) can pour in between but it would not be sustainable until it is supported by any good news. Many factors can affect Indian stock market in this week, which can be checked here. Traders are suggested to take care of 4800-4775 levels for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (15848) The support for the Sensex is 15620-15500 and the resistance to the up move is at 16000-16450.

NSE Nifty: (4748) The support for the Nifty is at 4675-4600 and the resistance to the up move is at 4800-4900-4950.