Last Trading Session: Exactly as predicted by EquityPandit that market would open negative with 25-50 points for Nifty and 100-160 points for Sensex and would see some profit booking due to worsen global data where strong supports would be seen at 5100 levels for Nifty and exactly same happened. Market opened negative with EquityPandit’s predicted levels of 45 points for Nifty and 140 points for Sensex. Market has seen sharp profit booking as per EquityPandit’s prediction from those levels. Nifty saw strong supports near EquityPandit’s predicted support levels of 5100, from where market rebounded and closed minimally negative.

Today: Indian Stock market likely to open negative. Indian Stock Market now in F&O expiry week and hence would see sharp volatility due to global and Indian market weak sentiments and rising dollar prices. Market would see strong supports at 5100-4960 levels for Nifty whereas strong resistance may be seen at 5225-5250 levels for Nifty. Overall market looks positive in short term hence traders can trade long until Nifty holds 5100 levels by closing.  Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (16972) The support for the Sensex is 16850-16780 and the resistance to the up move is at 17112-17260.

NSE Nifty: (5146) The support for the Nifty is at 5100 and the resistance to the up move is at 5225-5250.

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