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Last Trading Session: Exactly as predicted by EquityPandit that market would open gap negative and global sentiments may take market lower into negative region and exactly same happened. Market opened gap negative and breached all the supports. A sharp free fall was seen into the market led by the weaken Rupee and rising gold prices. Market saw low exactly at our previous support of 5497 for Nifty. Finally market closed just above 5500 levels for Nifty.
Today: Indian Stock Market to open flat. Technically, market has again entered into negative zone and market can see further downfall if levels of 5470 is breached for Nifty. Market would see immediate support at 5470, breaching which our next target would be 5430, which would be final support for Nifty. Breaching levels of 5430 for Nifty, would force market to again see a sharp free fall. Resistance for the upmove would be seen at 5600 levels for Nifty. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (18598) The support for the Sensex is at 18450-18170 and the resistance to the up move is at 18820-18950-19075 levels.
NSE Nifty: (5508) The support for the Nifty is at 5497-5470-5430 and the resistance to the up move is at 5600 levels.
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