Last Trading Session: Exactly as predicted by EquityPandit that market would open gap positive with 30-50 points for Nifty and 120-160 points for Nifty and would see strong resistance at 4950 whereas support would be seen at 4850 for Nifty and exactly same happened. Market opened positive with 46 points for Nifty and 140 points for Sensex exactly as per EquityPandit’s prediction. Market saw strong resistance exactly near EquityPandit’s predicted resistance levels of 4950 for Nifty from where market fell sharply. Market saw strong support at EquityPandit’s predicted support levels of 4850 for Nifty like a dot. Sensex also saw strong supports and resistance exactly at EquityPandit’s predicted support and resistance levels of 16000 and 16380 respectively like a dot. Finally market closed negative for the day.

Today: Market likely to open 35-60 points negative for Nifty and 120-160 points negative for Sensex. Technically market can recover until 4800-4766 holds for Nifty by closing. Market is currently rangebound and would see cyclic movements. Nifty posses strong support at 4800-4766 whereas strong resistance may be seen at 4920-4950 levels for Nifty. Breaching support or resistance levels would force market in that region. BHEL, RECLTD, Mangalore Refineries and Tech Mahindra results would also impact market direction today. Investors can consider every downtrend as a good opportunity to invest. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key Results Today: BHEL, Canara Bank, Chennai Petroleum, Lakshmi Machine, RECLTD, Mangalore refineries, Tech Mahindra and Tata Global.

BSE Sensex: (16026) The support for the Sensex is 15800 and the resistance to the up move is at 16200-16380-16450.

NSE Nifty: (4861) The support for the Nifty is at 4800-4766 and the resistance to the up move is at 4920-4950.

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