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Last Trading Session: Exactly as predicted by EquityPandit that market would open positive with 20-50 points for Nifty and 60-150 points for Sensex and would see strong support at 5645 for Nifty and can see high near 5620, where it would see strong resistance and exactly same happened. Market opened positive exactly with EquityPandit’s predicted levels of 20-50 points for Nifty and 60-150 points for Sensex. Market saw high near EquityPandit’s predicted resistance levels of 5620 for Nifty and fell down from there. Market saw strong support exactly at EquityPandit’s predicted support levels of 5545 for Nifty like a dot. Finally market closed flat for the day.
Today: Indian Stock Market likely to open positive but since market is not holding at higher levels, which is a sign of weakness in the market and hence market can see further positive movements only if it is able to breach levels of 5630 for Nifty. Market is expected to go further down in days to come. But for now, market should see support at 5545-5500 for Nifty, breaching which market can see levels of 5400 in days to come. If Nifty is able to hold 5545 levels then it can see high of 5630, breaching which, huge buying would come into the market which may take market to levels of 5670-5720. So for now, important levels to watch would be between 5545 and 5630 for Nifty. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
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BSE Sensex: (18329) The support for the Sensex is at 18300-18265-18200 and the resistance to the up move is at 18470-18550-18600.
NSE Nifty: (5572) The support for the Nifty is at 5545-5500 and the resistance to the up move is at 5630-5670.
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