Last Trading Session: As predicted by EquityPandit that market would open flat with positive bias and would see further positive movements upto 5380 which would act as strong resistance level and traders should remain cautious as it would be time for profit booking and shorting and exactly same happened. Market opened flat with positive bias as predicted by EquityPandit and remained positive throughout the day. EquityPandit saw strong resistance near EquityPandit’s predicted resistance levels of 5380 for Nifty and moved sharply down from there. Finally market closed flat for the day.

Today: Indian Stock Market likely to open positive. Now it looks like that market would see some further profit booking and may remain in rangebound region before further movements.  Nifty would see strong resistance near 5380-5405-5440 for Nifty whereas support would be seen at 5300-5280 levels for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key results to be declared today: Adani Enterprises, Ansal Properties, Apollo Tyres, Eicher Motors, GMR Infra, Gujarat State Petronet, HPCL, IFCI, Jindal Stainless, Indian Oil Corporation, Max India, NCC, Ranbaxy Lab, Shyam Telecom, Tata Motors, Tech Mahindra and Welspun India.

BSE Sensex: (17601) The support for the Sensex is at 17504-17450 and the resistance to the up move is at 17740-17870.

NSE Nifty: (5338) The support for the Nifty is at 5300-5280 and the resistance to the up move is at 5380-5400-5440.

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