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Last Trading Session: Exactly as predicted by EquityPandit that market would open negative and would see support at 5340 for Nifty whereas resistance would be seen near 5385-5400 for Nifty and market would remain in rangebound region with further positive direction if 5340 holds for Nifty and exactly same happened. Market opened negative today and saw strong support near EquityPandit’s support levels of 5340 like a dot. Market moved positive and saw resistance exactly near EquityPandit’s predicted resistance levels of 5385-5400 for Nifty. Sensex also saw high exactly at EquityPandit’s predicted resistance levels of 17870 like a dot. Finally market closed in positive region.  

Today: Market would see further positive movements and today it is expected to breach levels of 18000 for Sensex and 5450 levels for Nifty. 5450 still acts as a strong resistance, breaching which market can see levels of 5500 for Nifty. Nifty possess strong support at 5350-5318. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

Stocks you can go short: Sesa Goa (159.80), Jindal Steel and Power (333.8)

Stocks you can go long: Hexaware Technologies (137.15), PFC (163.20), TataMotors (249.6 – Buy above 252)

Performance of Stocks recommended (on September 3, 2012 in EquityPandit’s Daily Newsletter)

 

Bharti Airtel Buy at 247.8 made high of Rs.262

Tata Motors Buy at Rs.234.3 made high of Rs.250.9

Wipro Buy at Rs.362.6 made high of Rs.385

 

AbirlaNuvo short at 744.6 made low of Rs.738

 

Performance of Stocks recommended (on September 4, 2012 in EquityPandit’s Daily Newsletter)

 

Biocon Buy at Rs.267.85 made high of Rs.278

Orchid Chemicals Buy at Rs.110.65 made high of Rs.118

You all receive EquityPandit’s daily newsletters, check the details of all above recommendations in those newsletters on given date or visit www.equitypandit.comfor the same.

BSE Sensex: (17853) The support for the Sensex is at 17725-17660 and the resistance to the up move is at 18050-18200

NSE Nifty: (5290) The support for the Nifty is at 5350-5318 and the resistance to the up move is at 5450-5500.

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