Last Trading Session: Exactly as predicted by EquityPandit that market would open positive with 10-25 points for Nifty and would see strong resistance at 5400 levels for Nifty whereas 5350 would act as strong support for Nifty and exactly same happened. Market opened positive with EquityPandit’s levels of 12 points positive for Nifty. Market moved positive but saw strong resistance exactly at EquityPandit’s predicted resistance levels of 5400 for Nifty like a dot, from where market crashed. Market saw low near EquityPandit’s predicted support levels of 5350 for Nifty and finally ended marginally above EquityPandit’s predicted support levels.

Today: Market likely to open flat with positive bias. Technically, analysis remains same and market can see further profit booking if levels of 5345 get breached for Nifty with huge volumes. Breaching levels of 5345 may take market again near 5300 levels for Nifty. We would consider market to be positive until it breaches levels of 5345 with good volumes. Nifty possess immediate support at 5345 and strong support at 5300 whereas resistance may be seen at 5385-5400-5445. Traders and investors can go long for Tata Motors and Bharti Airtel with stoploss at 230 and 250 respectively as trend of both these stocks are reversing and can provide good profits. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (17691) The support for the Sensex is at 17570-17450 and the resistance to the up move is at 17770-17840-17950.

NSE Nifty: (5366) The support for the Nifty is at 5345-5330-5300 and the resistance to the up move is at 5385-5400-5445.

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