Last Trading Session: Exactly as predicted by EquityPandit, that market would open negative and would see further downtrend and same happened. Market opened weak and slide further opening near our target.
Today: Since there is not strength seen in the market and it sees profit booking at higher levels, market may see further down trend. EP predicted earlier that Nifty target would be 5350, which still holds. Market may see cyclically up and down movement but overall no strength would be seen until it breaches 5600 on the positive side.
BSE Sensex: (17986) The support for the Sensex is 17850 and the resistance to the up move is at 18200.
NSE Nifty: (5397) The support for the Nifty is at 5350 and the resistance to the up move is at 5460-5500.
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