Last Trading Session: As predicted by EquityPandit that market would open positive but market would see strong resistance at 5270 for Nifty and profit booking would be seen at higher levels where Nifty would see strong support at 5220-5200 levels and exactly same happened. Market opened positive and saw strong resistance near EquityPandit’s predicted resistance levels of 5270 for Nifty. Market saw strong profit booking as expected and fell down near EquityPandit’s predicted support levels of 5220 for Nifty. Finally market closed just above EquityPandit’s predicted support levels.
Today: Indian Stock Market likely to open flat. Technically, Market in sideways movements and breakout can be seen only below 5200 or above 5275 levels for Nifty. Breaching any levels will force market to move sharply in that region. Huge FII Investments this year also confirms positive market in midterm but short term trend is dubious. Technically market should breach support or resistance to see further movements, till then market would move up and down in consolidated region. Nifty possess immediate support at 5218 and strong support at 5200-5175 whereas strong resistance may be seen at 5275-5300. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
BSE Sensex: (17213) The support for the Sensex is 17160-17100 and the resistance to the up move is at 17380-17540-17600.
NSE Nifty: (5227) The support for the Nifty is at 5218-5200-5175 and the resistance to the up move is at 5275-5300.
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