Last Trading Session:  As predicted by EquityPandit that Market likely to open flat and would see short covering now with 4840 as resistance levels for Nifty and same happened. Market opened flat and saw sharp short covering rally but had seen resistance near EquityPandit’s predicted resistance levels of 4840-4850 for Nifty and retreated from there to close flat with positive bias.

Today: Market likely to open negative with atleast 30-50 points for Nifty and 80-100 points for Sensex. Technically, analysis would remain same. Market would see huge volatility due to F&O expiry approaching. Nifty can see some more short covering (positive rally). Market is over stretched and still looks weak on charts but beware as 4748 would be immediate support levels and 4720-4700 are strong support levels for Nifty which should not breach in any case and if breached than we can possibly see sharp down fall for a prolonged period. Traders should wait for a day as market would be very volatile and directionless. Possibly, Nifty may see levels of 4890 in coming days. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (16065) The support for the Sensex is 15900-15760-15600 and the resistance to the up move is at 16044-16256-16370.

NSE Nifty: (4812) The support for the Nifty is at 4748-4720-4700 and the resistance to the up move is at 4855-4890-5000.

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