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Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with negative bias and some positive movements would be seen from there but profit booking would surely come at EquityPandit’s predicted resistance levels and 5900 would be deciding mark for Nifty, breaching which market can slide down and exactly same happened. Market opened flat with negative bias as per EquityPandit’s predictions. Market moved up from there but finally near 5925, Nifty saw strong profit booking which led market to breach levels of 5900. Breaching 5900 took market near to levels of 5883 as per EquityPandit’ prediction but Modi winning brought market back on track and above levels of 5900. Finally market closed above EquityPandit’s predicted support levels of 5900 for Nifty.
Today: Technically, analysis would remain same. Indian Stock Market would see sideways movement in rangebound region. Banking Amendment bill had been passed by Parliament, which should be positive for economy and market but the positive effect had already been considered by market earlier, so we would not see huge positivity in the market but anyhow it is a positive news, which can move the market for a day. Strong resistance would be seen at 5950-5980-6000 for Nifty whereas supports would be seen at 5900-5880-5840 for Nifty, so traders should enter into trade only near EquityPandit’s predicted resistance and support levels in opposite direction to get maximum possible profits as overall market would remain rangebound. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (19454) The support for the Sensex is at 19370-19200 and the resistance to the up move is at 19600-19700-19850.
NSE Nifty: (5916) The support for the Nifty is at 5900-5840 and the resistance to the up move is at 5950-5980-6000.
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