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Last Trading Session: Market opened flat and exactly as predicted by EquityPandit that market can see further downside and next logical target for Nifty is 5497-5477 levels, which would act as strong support for Nifty and exactly same happened. Market opened flat and moved down sharply as predicted by EquityPandit. Market achieved EquityPandit’s predicted target of 5497 for Nifty. Market saw lows near Equitypandit’s predicted support levels of 5477 for Nifty and rebounded from there. Finally market closed negative for the day.

Today: Indian Stock Market to open flat. Technically, Analysis would remain same. Market can see further downside. Nifty already achieved EquityPandit’s target of 5497 and now next logical targets should be 5477-5430 levels for Nifty. Nifty would see strong support near 5497-5477-5430. Since Market is overstretched, some strong short-covering can’t be ruled out. But Nifty may see strong resistance at 5565-5610-5654 levels for Nifty. Traders are suggested to trade short until Nifty holds 5610 levles. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

BSE Sensex: (18665) The support for the Sensex is at 18470-18380-18200 and the resistance to the up move is at 18880-18950-19075 levels.

NSE Nifty: (5519) The support for the Nifty is at 5497-5477-5430 and the resistance to the up move is at 5565-5610-5654 levels.

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