Last Trading Session: Exactly as predicted by EquityPandit that market would open flat and may see some small profit booking and market possess strong support at 4860 levels for Nifty whereas resistance would be seen at 4955 for Nifty and same happened. Market opened flat for Nifty and saw some profit booking from there as predicted by EquityPandit but rebounded from there to closed flat for the day.

Today: Market likely to open flat with negative bias. Since market closed exactly on the same point, analysis would remain same. Market now in F&O Expiry week and hence strong volatility would be seen. Market would remain range bound and would see sideways movements.  Once market breaches levels of 4955 for Nifty with force, only then it would be considered bullish and levels of 5000 would be seen breaching soon and till then traders should remain cautious. Nifty possesses strong support at 4860-4830 levels whereas resistance would be seen at 4955-4980-5005 levels for Nifty. Traders should just be a viewer of the show for some time and should avoid any big trading, until a level of 4955 is breached. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key Results Today: Balrampur Chini, Bharat Forge, Bombay Dyeing, Britannia Industries, Coal India, Dredging Corporation, Engineers India, Indian Hotels, IOC, National Fertilizers, NDMC, Oil India, Subros and Sundaram Finance.

BSE Sensex: (16218) The support for the Sensex is 16100-16000 and the resistance to the up move is at 16380-16450.

NSE Nifty: (4920) The support for the Nifty is at 4860-4835 and the resistance to the up move is at 4955-4980-5000.

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