Last Trading Session: Exactly as predicted by EquityPandit that market would open positive and some short covering would be seen and strong support would be seen at 5535 levels, which if breached levels of 5500 can be seen and exactly same happened. Market opened positive as per EquityPandit’s predictions. Nifty saw some short covering but unable to hold positive trends and fell down to breach levels of 5535 for Nifty. Breaching levels of 5535 forced market to EquityPandit’s target of 5500 levels for Nifty. Finally, Nifty closed below 5500 levels.

Today: Technically, 5500 levels for Nifty is a pivot point. Market can be considered positive only if Nifty remains above 5500 levels, else levels of 5450-5400 can be seen soon. Nifty possess immediate supports at 5465-5445-5400 levels for Nifty whereas new resistance would be seen at 5550 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: (18226) The support for the Sensex is at 18200-18075-18000 and the resistance to the up move is at 18380-18470-18570 levels.

NSE Nifty: (5495) The support for the Nifty is at 5465-5445-5400 and the resistance to the up move is at 5550-5585 levels.

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