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Friday’s Trading Session: Exactly as predicted by EquityPandit that market would open negative with 5300-5270-5210 as strong support levels for Nifty and 17300 for Sensex and exactly same happened. Market opened gap negative and saw sharp downfall breaking the supports of 5300. Market saw strong supports at EquityPandit’s predicted support levels of 5270 for Nifty like a dot. Sensex also saw strong supports at EquityPandit’s predicted support levels of 17300 levels. Finally market ended in negative region just above EquityPandit’s predicted support levels of 5270.

Today: Market likely to open negative with 25-50 points for Nifty and 100-150 points for Sensex. Technically market is weak now and since it had broken the support of 5300 levels, it can test levels near to 5210 for Nifty as 5210 is strong support for Nifty. Resistance to move up would be at 5340-5370 for Nifty. Uttar Pradesh elections outcome would be disclosed tomorrow, which would be major market driver. It would also relieve market from pre election tensions formed in the market, which can be positive for market and sharp positive trend can be seen if the result is as expected. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits. Traders can take help of EP-Basic Package to earn consistent daily profits in any market direction. Today, you can subscribe to EP-Basic Package at Rs.800* per month instead of Rs.4000 per month. See details at EquityPandit’s Biggest Ever Offer at www.equitypandit.com

March-2012 Updates: Market would be highly volatile with the series of news coming ahead; March is a critical month as the UP election results which is going to be held today (06-March-2012), RBI credit policy review on March 15, and Union Budget on March 16. The market is going to be extremely volatile just before Budget.

BSE Sensex: (17363) The support for the Sensex is 17300-17100 and the resistance to the up move is at 17505-17780-17890.

NSE Nifty: (5280) The support for the Nifty is at 5260-5210 and the resistance to the up move is at 5340-5370-5400.

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