Last Trading Session: Exactly as predicted by EquityPandit that market would open positive but would see sideways movement in rangebound region and profit booking would be seen at higher levels with strong support at 5890 for Nifty and 19350 for Sensex and exactly same happened. Market opened positive as per EquityPandit’s prediction. Market saw sideways movement in rangebound region for the whole day as per EquityPandit’s prediction. Profit booking was see at higher levels as expected by EquityPandit but strong support was seen at EquityPandit’s predicted support levels of 19350 for Sensex and 5890 for Nifty like a dot.

Today: Technically, analysis would remain same and market can see further profit booking at higher levels. Market would see sideways movement in rangebound region for a day or two. Nifty would be considered positive until it holds levels of 5890-5850 and till then traders are suggested to go long. Macro-Economic numbers, which would be declared this week, IIP on December 12, 2012 and Inflation numbers on December 14, 2012 are expected to be positive for the market. But remember, if a level of 5850 is breached on negative side, Nifty would see bearish sentiments and can move upto levels of 5800, so breaching levels of 5850 would give sell signal to traders. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

BSE Sensex: (19409) The support for the Sensex is at 19350-19250 and the resistance to the up move is at 19630-19800.

NSE Nifty: (5909) The support for the Nifty is at 5900-5890-5850 and the resistance to the up move is at 5950-5970-6000.

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