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Last Trading Session: Exactly as predicted by EquityPandit that market would open negative with 10-30 points for Nifty and 40-100 points for Nifty and would see strong support at 5220 levels for Nifty and exactly same happened. Market opened negative with EquityPandit’s predicted levels of 30 points for Nifty and 90 points for Sensex. Market fell further but saw strong support exactly at EquityPandit’s predicted support levels of 5220 for Nifty like a dot. Finally market closed negative for the day.

Today: Indian Stock Market likely to open flat. Technically, market is not in downtrend and can see levels of 5200-5180 in days to come. But further market direction would not depend on today’s ECB meet. So traders are suggested to take very small positions or stay away until ECB meet. Nifty now possess strong support at 5218-5200-5180. If ECB meet fails to realize market expectations, then probably market can fell to levels of 5170-5145 in days to come. Strong resistance would be seen at 5275-5300 levels for Nifty. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

BSE Sensex: (17313) The support for the Sensex is at 17200-17100 and the resistance to the up move is at 17540-17600.

NSE Nifty: (5226) The support for the Nifty is at 5220-5200-5180 and the resistance to the up move is at 5270-5300.

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