Friday’s Trading Session: Exactly as predicted by EquityPandit that market would open positive with 25 points for Nifty and would see strong resistance at 5400 levels for Nifty and exactly same happened. Market opened positive with 26 points for Nifty on Friday. Market moved up sharply and saw resistance near EquityPandit’s predicted resistance levels of 5400 for Nifty, finally market closed positive for the day. On Saturday’s short 2 hour trading session also market remained flat and traded in the same region of 5355-5366 levels.

Today: Market likely to open negative with high volatility. Market is still in sideways zone. Since Union Budget is approaching, Indian market would be considered positive and can see some sharp positive movements if it is able to hold 5300 levels for Nifty. On the negative side, market can see sharp downfall, if levels of 5300 are breached as 5300-5210 are strong support levels for Nifty. Resistance to move up is at 5400-5470. Breaching levels of 5400 would give Nifty and sharp northward push. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

March-2012 Updates: Market would be highly volatile with the series of news coming ahead; March is a critical month as the UP election results expected on March 6, RBI credit policy review on March 15 and Union Budget on March 16. The market is going to be extremely volatile just before Budget.

BSE Sensex: (17636) The support for the Sensex is 17450-17300 and the resistance to the up move is at 17780-17890.

NSE Nifty: (5359) The support for the Nifty is at 5300-5270-5210 and the resistance to the up move is at 5400-5470.

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