Last Trading Session: Exactly as predicted by EquityPandit that market would open flat and would see strong support at 5350 and exactly same happened. Market opened flat and went down sharply near EquityPandit’s predicted support levels of 5350 for Nifty like a dot. Finally market closed in gap negative region.

Today: Indian Stock Market will open flat. Market will see further downtrend. Some short covering is not ruled out but overall market looks negative upto 5300 levels, which would act as strong support levels for Nifty. Immediate supports can be seen at 5320 levels for Nifty. Now resistance would be seen near 5390-5418 levels for Nifty. Traders should look opportunity for shorts at this point of time. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Stocks that can be short: Jindal Steel and Power (LTP:377), ICICI Bank (LTP:935), Tata Motors (LTP:341.05), Maruti (LTP:1167.8) and Canara Bank (LTP:323.6).

Stocks that can be held long: Mahindra & Mahindra (LTP:773.5) and Alstom India (398.55)

BSE Sensex: (17679) The support for the Sensex is at 17600-17520-17470 and the resistance to the up move is at 17760-17800-17900.

NSE Nifty: (5350) The support for the Nifty is at 5320-5300 and the resistance to the up move is at 5390-5418.

Note: If you wish to subscribe for premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com

Premium Subscription Pricing details can be seen at Pricing