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Last Trading Session: Exactly as predicted by EquityPandit that market would be considered positive but profit booking would be seen at higher levels and Market would see strong resistance at 5950 and 19630 for Sensex whereas supports would be seen at 5850 for Nifty and 19250 for Sensex and exactly same happened. Market opened positive but saw strong resistance at EquityPandit’s predicted resistance levels of 19630 for Sensex and 5950 for Nifty like a dot. Profit booking was seen at those levels as predicted by EquityPandit, and market fell down near to EquityPandit’s predicted support levels of 19250 for Sensex and 5850 for Nifty. Finally market closed in negative region.

Today: Market likely to open positive. Today, IIP numbers would decide the direction of Indian Stock Market. If market sees positive IIP numbers, then a positive breakout is expected. Breaching and sustaining level of 5955 for Nifty would take Nifty to 6000 in days to come. Profit booking would be seen at various levels at 5950-5970-6000 for Nifty. IIP number would be followed by Inflation number after two days, which would again define the market direction. But overall market would remain rangebound. But remember, if a level of 5850 is breached on negative side, Nifty would see bearish sentiments and can move upto levels of 5800, so breaching levels of 5850 would give sell signal to traders. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

BSE Sensex: (19387) The support for the Sensex is at 19350-19250 and the resistance to the up move is at 19630-19800.

NSE Nifty: (5899) The support for the Nifty is at 5890-5850 and the resistance to the up move is at 5950-5970-6000.

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