Last Trading Session: Exactly as predicted by EquityPandit, that market will open negative and further direction would be seen only after the market come out of the range of 5500-5600 levels for Nifty and same happened. Market breached 5500 for Nifty and saw support exactly near EquityPandit’s predicted support levels of 5485-5480 and finally closed negative.

Today: Market likely to open negative. Now since market came out of the consolidated region and that too on the downside, we may expect market to move down further. Until and unless market doesn’t breach 5600 on the positive side we can expect market to see good upmove. Market can again see downside of 5350 for Nifty. On the positive side longs should only be done if market breaches 5600 mark for Nifty.

BSE Sensex: (18269) The support for the Sensex is 18100 and the resistance to the up move is at 18375-18550.

NSE Nifty: (5486) The support for the Nifty is at 5350 and the resistance to the up move is at 5562-5600.

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