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Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with positive bias and would see strong support at 5870, breaching which a sharp downfall may be seen and exactly same happened. Market opened positive and saw a downfall as predicted. Market saw lows exactly at EquityPandit’s predicted support levels of 5870 like a dot. Finally market closed in negative region just above EquityPandit’s predicted support levels. Sensex also close just above EquityPandit’s predicted support levels of 19730.
Today: Indian Stock Market to open negative. Technically, Market is weak and Nifty should touch the levels of 5800 in days to come. Analysis would still remain same and 5870 would still be a deciding level for Nifty, breaching which market may see sharp downtrend and 5800 can be a possibility. Some short-covering can’t be ruled out after this downfall. Nifty may see strong supports at 5870-5850-5800 whereas resistance to positive movement may be seen at 5950-5970-6000. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (19748) The support for the Sensex is at 19730-19540-19400 and the resistance to the up move is at 19950-20075-20180 levels.
NSE Nifty: (5886) The support for the Nifty is at 5870-5850-5800 and the resistance to the up move is at 5950-5970-6000 levels.
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