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Last Trading Session: Exactly as predicted by EquityPandit that market would open positive with 10-30 points for Nifty and profit booking cannot be ruled out at these levels as market would see strong resistance at 5900 for Nifty and 19440 levels for Sensex and exactly same happened. Market opened positive with EquityPandit’s predicted levels of 10 points for Nifty. Market moved positive to see strong resistance near EquityPandit’s predicted resistance levels of 5900 for Nifty. Finally as per EquityPandit’s predictions, market saw profit booking at resistance levels and closed marginally negative for the day.
Today: Indian Stock Market likely to open negative with 10-30 points for Nifty. Technically, analysis would remain same and Indian Stock Market is still in positive tone until 5820 holds for Nifty. Some profit booking cannot be ruled out at these levels but overall direction would be positive where immediate resistance may be seen at 5900-5920 whereas strong resistance may be seen at 5950-5970 for Nifty. Support would exist at 5820 for Nifty, below which market would again see downtrend. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (19305) The support for the Sensex is at 19110-19050-18940 and the resistance to the up move is at 19440-19630.
NSE Nifty: (5871) The support for the Nifty is at 5820 and the resistance to the up move is at 5900-5920-5950.
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