Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with positive bias and would see short covering (Positive movement) due to reaction of sharp down fall with 5400 as a strong resistance exactly same happened. Market opened positive and had seen sharp bounce back (Positive movements) due to reaction as predicted by EquityPandit. Market saw strong resistance near EquityPandit’s predicted resistance levels of 5400 for Nifty and closed below those levels

Today: Market likely to open gap positive with 25-50 points for Nifty and 100-150 points for Sensex. Technically market should see some more positive movements before Union budget. Now market would see sideways movements and strong resistance would be seen at 5470 levels for Nifty whereas 5300 would act as support for Nifty. Market would be highly volatile with the series of news coming ahead; March is a critical month as the UP election results expected on March 6, RBI credit policy review on March 15 and Union Budget on March 16. The market is going to be extremely volatile just before Budget. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (17731) The support for the Sensex is 17615-17504 and the resistance to the up move is at 17890-18064.

NSE Nifty: (5376) The support for the Nifty is at 5300-5210 and the resistance to the up move is at 5470.

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