Last Trading Session: Exactly As predicted by EquityPandit that market would open 10-30 points positive for Nifty and 30-80 points for Sensex and would see support at 5100-5078 and breaching this point, market would it would sharply head down towards 5030 levels for Nifty and exactly same happened. Market opened positive exactly with EquityPandit’s predicted levels of 10 points for Nifty and 30 points for Sensex and remain in the levels of 5100-5078 for almost whole trading session. By the end of trading session Nifty breached levels of 5078 and as predicted by EquityPandit, it sharply headed downwards towards 5030 levels where Nifty saw supports at EquityPandit’s predicted support levels of 5030 for Nifty. Finally market closed deep negative for the day. Sensex also saw support exactly at EquityPandit’s predicted support levels of 16600 like a dot.

Today: Indian Stock Market likely to open gap positive with 15-40 points for Nifty and 60-140 points for Sensex. Now since F&O Expiry ended in deep negative region, some short covering is definitely expected but 5100 would act as strong resistance for Nifty whereas next logical support would directly be seen at 5030-4997 for Nifty. Traders should wait for market to decide the next direction as tomorrow new F&O contracts and probably some long contracts would be bought. But the short covering would definitely be temporary and further downside is expected in next few days. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key results to be declared today: Alstom T&D, Bank of India, Central Bank, CESC, Dena Bank, Essar Propack GHCL, Grasim Industries, Hindustan Construction, ICICI Bank, IRB Infra, M&M, Mangalore Refineries, Mastek, Nestle India, NTPC, PNB, REC, Sterlite Technologies, Thomas Cook, TVS Motor, Union Bank, United Spirits .

BSE Sensex: (16639) The support for the Sensex is at 16504-16400 and the resistance to the up move is at 16840-16970-17050.

NSE Nifty: (5043) The support for the Nifty is at 5030-4997 and the resistance to the up move is at 5080-5100.

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