Last Trading Session: Exactly as predicted by EquityPandit that market would open with gap positive with 50 points for Nifty and 150 points for Sensex and would see strong resistance at 5470 for Nifty and exactly same happened. Market opened with gap positive as predicted and had seen strong resistance near EquityPandit’s predicted resistance levels of 5470 for Nifty and finally fell down sharply. Market saw sideways movements for the day exactly as expected and closed flat.

Today: Market would open flat. Technically, analysis would remain same. Market should see some more positive movements before Union budget. Strong resistance would still be seen at 5470 levels for Nifty whereas 5300 would act as support for Nifty. Market can see prolonged negative movements by breaching 5300 levels for Nifty. Till then it would be considered positive and can see further positive movements. 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. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (17752) The support for the Sensex is 17615-17504 and the resistance to the up move is at 17890-18064.

NSE Nifty: (5385) The support for the Nifty is at 5300-5210 and the resistance to the up move is at 5470.

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