Last Trading Session: Exactly As predicted by EquityPandit, that there is much possibility for the market to see sharp short covering till 5500 and same happened. Market moved up sharply to 5510 levels for Nifty but saw some selling pressure at higher levels and ended flat.

Today: Market likely to open flat with positive bias. Market may remain in consolidated region for some time. It will see cyclically up and down movements. But overall market looks positive and there are chances to see sharp up moves if it doesn’t see selling pressures at higher levels. Investors should remain invested and enjoy profits and traders can go long until 5420 holds for Nifty.

BSE Sensex: (18232) The support for the Sensex is 18100 and the resistance to the up move is at 18550.

NSE Nifty: (5473) The support for the Nifty is at 5400 and the resistance to the up move is at 5560.

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