Last Trading Session: As predicted by EquityPandit, that market would open positive and would see profit booking at higher levels with strong support at 4700 for Nifty and exactly same happened. Market opened positive but moved down sharply due to profit booking just after pre-market trading as per EquityPandit’s prediction. Finally market closed flat with negative bias.  

Today: Market likely to open flat. Technically analysis would remain same and market is still weak but may surprise cyclically by upmoves. Market needs to breach 4820 levels for Nifty on the positive side to see strength, until then market is weak and can move down 5-10% from here in days to come. Breaching 4820 for Market by closing would give sharp buy signal and may result market to see levels of 5000 for Nifty. Market may see profit booking at higher levels as there is lot of uncertainty lying around the globe. Nifty posses immediate support at 4700 and strong support at 4640 whereas resistance to move up may be seen at the levels of 4820-4865 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: (15882) The support for the Sensex is 15730-15640-15478 and the resistance to the up move is at 16186-16430.

NSE Nifty: (4750) The support for the Nifty is at 4700-4640 and the resistance to the up move is at 4820-4865.

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