Last Trading Session: Exactly as predicted by EquityPandit, that market would open negative gap down and would see support near 4950 for Nifty and same happened. Market has seen gap down opening and saw strong support near our support levels of 4950 for Nifty. Market managed to closed in positive for the day.

Today: Market likely to see positive opening with atleast 30+ points for Nifty and 110+ points for Sensex. Technically, market should still see some more upmove to breach the levels of 5120, which is acting as immediate resistance level for Nifty. Market can again see some profit booking at those levels. Now 5000 would act as strong support and 5120-5200 would act as strong resistance for Nifty. Traders can trade long until 5000 holds for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.                                                                                                     

BSE Sensex: (16862) The support for the Sensex is 16600-16485 and the resistance to the up move is at 17022-17256.

NSE Nifty: (5064) The support for the Nifty is at 5000 and the resistance to the up move is at 5120-5200.

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