Last Trading Session: Exactly as predicted by EquityPandit, that market would open positive but would see profit booking at higher levels with cyclically up and down movements and same happened. Market opened positive and ended flat.

Today: Market likely to open flat with negative bias. Analysis would remain same. Still 5350 would be a strong resistance for Nifty. If market breaches 5350 for Nifty then there would be ray of hope else it may just see cyclically up and down movement. Overall market is weak and lethargic at this moment and may see profit booking at higher levels but reactions (short covering) can be seen any time, so trader should be cautious.

BSE Sensex: (17551) The support for the Sensex is 17200 and the resistance to the up move is at 17807.

NSE Nifty: (5278) The support for the Nifty is at 5165-5100 and the resistance to the up move is at 5350-5400.

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