Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with negative bias and would immediate support at 5100 levels and breaching those levels would drag market down sharply near 5060 levels for Nifty and 16600 levels for Sensex and exactly same happened. Market opened flat with 6 points negative for Nifty as expected by EquityPandit. Market saw strong supports at EquityPandit’s predicted support levels of 5100 in early trade. Disclosure of higher Inflation number forced market to breach levels of 5100 and hence as per EquityPandit’s prediction, after breaching the levels of 5100 dragged market down sharply near 5060 levels for Nifty. Finally Market closed in deep negative region.

Today: Indian Stock Market likely to open positive. Technically, Indian Stock Market is down and should see further downtrend upto levels near 5000 for Nifty but market would remain volatile with some positive trends ahead of big news, EU Elections and RBI Rate cut. Market direction would be further decided on Monday by RBI Rate cut. Market would remain highly volatile due to European Union Elections ahead on 17 June, 2012. Nifty possess strong resistance at 5125-5145 levels whereas supports may be seen at 5000-4960 levels for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (16678) The support for the Sensex is 16600-16504-16380 and the resistance to the up move is at 16880-16950-17050.

NSE Nifty: (5055) The support for the Nifty is at 5000-4960 and the resistance to the up move is at 5125-5145.

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