Last Trading Session: Exactly as predicted by EquityPandit that market would open flat and would see positive momentum but profit booking would definitely be seen at higher levels and would see immediate resistance at 5035 for Nifty and exactly same happened. Market opened flat with 15 points for Nifty and saw sharp positive movements from there as predicted by EquityPandit. Market saw strong resistance near EquityPandit’s predicted resistance levels of 5035 for Nifty and fell down sharply from there. Finally market closed flat for the day.

Today: Indian Stock Market likely to open negative on European Union worries. Since market closed flat yesterday, technical analysis would remain same. Market would be highly volatile today due to F&O Expiry a day ahead. Some profit booking would definitely be seen at higher levels but now market breath is positive and can see further positive trends upto 5035 for Nifty in days to come, if market holds levels of 4940 for Nifty. Nifty possess immediate resistance near levels of 5035 and strong resistance near 5080-5100 whereas support may be seen at 4940 levels for Nifty.  Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key Results today: Aban Offshore,BEML, BPL,Colgate Palmolive,DLF, Essar Ports, Financial Technologies, GAIL,GHCL,Godrej Industries, Gujarat Industries, Gujarat State Fertilizers, Gujarat Oil Corporation, Havells India, HDIL, JP Associate, Jindal Saw,Mahindra & Mahindra, Parsvnath Developers, Pipvav Defence, PTC India, Spice Jet, Tata Chemicals and United Breweries

BSE Sensex: (16439) The support for the Sensex is 16200 and the resistance to the up move is at 16540-16660.

NSE Nifty: (4990) The support for the Nifty is at 4940 and the resistance to the up move is at 5035-5080-5100.

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