Last trading session: As predicted by us Indian Market opened with negative and went down sharply. Sensex closed with around 400 pts down.
Today: Today Indian stock market would open with gap down. A strong resistance level would be 4800 for Nifty. Now, for short term market looks down. Its suggested to book profits at these levels. If market anyhow breaks resistance level of 4800 than next resistance level would be around 4700. Keep cash in hand.
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BSE Sensex: (16353) The support for the Sensex is 16220-15850 and the resistance to the up move is at 16720.
NSE Nifty: (4847) The support for the Nifty is at 4800-4700 and the resistance to the up move is at 4960.