Last Trading Session: As predicted by EquityPandit that market would open positive with around 40 points for Nifty and 120 points for Sensex and same happened. Market opened positive with 30 points for Nifty and 110 points for Sensex. Market saw strong opening but weak European cues, led Indian market to sink again to negative region.

Today: Market likely to open minutely negative.Technically, Indian stock market still have a target of 5175 for Nifty. Market would see some consolidation before breaching strong resistance levels of 5175-5200 levels for Nifty. 5025 would still remain as support to Nifty. And market would be considered positive until 5025 level holds for Nifty. At higher levels market may see some profit booking and at lower levels it will see short covering. Hence, overall it’s a good time for traders to trade in these region with following strategies. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (16883) The support for the Sensex is 16770-16667-16501 and the resistance to the up move is at 17096-17247-17358.

NSE Nifty: (5078) The support for the Nifty is at 5025 and the resistance to the up move is at 5175-5200.

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