Last Trading Session: Market was higly volatile on F&O Expiry day. Market opened flat and further profit booking was seen as expected. Market saw supports near EquityPandit’s predicted support of 5470 for Nifty and a sharp short covering was seen from there. Finally market could not sustain in positive region and fell down from there to close negative for the day.

Today: Market likely to open flat. Market is still in profit booking mode and downside is open until 5400 for Nifty which would act as support levels for Nifty after 5420 levels. Technically further selling should be seen but US and European markets are supporting Indian stock market with good numbers and bettering global economy. Moving ahead Indian market should see positive movements again and every sell would be considered as good opportunity for investors to invest and enjoy short term gains. Nifty possess strong resistance at 5550-5597 levels. Traders can go long until 5460 levels 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: (18078) The support for the Sensex is 17958-17850 and the resistance to the up move is at 18250-18425.

NSE Nifty: (5483) The support for the Nifty is at 5460-5420-5400 and the resistance to the up move is at 5550-5597.

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