Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with negative bias but would see strong support at 5210 whereas resistance may be seen at 5250-5275 levels for Nifty and exactly same happened. Market opened flat with negative bias as per EquityPandit’s prediction. Nifty saw low exactly near EquityPandit’s predicted support levels of 5210 for Nifty. Market saw short covering from those levels upto EquityPandit’s predicted resistance levels of 5250 for Nifty. Finally market closed positive for the day.

Today: Indian Stock Market likely to open flat. Indian Stock market now in rangebound region and can see sideways movements. Nifty would see immediate support at 5210 levels and strong support for Nifty would be seen at 5175-5150 levels. Resistance may be seen at 5250-5270 levels for Nifty. Breaching levels of 5210 for Nifty may again develop bearish trend and further downtrend can be seen. Until then market would be considered bullish and one should not short until levels of 5210 is breached on the negative side. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key results to be declared today: Cummins India, Glenmark Pharma, Hotel Leela, Madras cements, Oracle Financial Services Software and Satyam Computers.

BSE Sensex: (17257) The support for the Sensex is at 17200-17100-17050 and the resistance to the up move is at 17380-17505.

NSE Nifty: (5241) The support for the Nifty is at 5210-5175-5150 and the resistance to the up move is at 5250-5275.

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