Last Trading Session: Exactly as predicted by EquityPandit that market would open negative and would see immediate support at 4940 for Nifty, from where it would see positive movements but again profit booking would be seen at higher levels and exactly same happened. Market opened negative for Nifty as predicted by EquityPandit. Nifty saw support exactly near EquityPandit’s predicted support levels of 4940 and rebounded from there but profit booking was seen at higher levels and market closed gap negative just above our support levels of 4940 for Nifty.
Today: Indian Stock Market likely to open 25-50 points negative for Nifty and 100-150 points for Sensex. Indian Stock Market is still in profit booking mode as European fears are getting worsen. Market may see more downfalls until 4925-4900 for Nifty. Since today is F&O Expiry day, market would be be highly volatile. Nifty possess immediate support at 4925 and strong support at 4900-4855, whereas resistance may be seen at 4985-5010 levels. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
Key Results today: BEML
BSE Sensex: (16312) The support for the Sensex is 16200-16000 and the resistance to the up move is at 16440-16540-16660.
NSE Nifty: (4951) The support for the Nifty is at 4925-4900-4855 and the resistance to the up move is at 4985-5010.
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