Last Trading Session: Exactly As predicted by EquityPandit that market would open flat and would see strong support at 5195-5200 levels for Nifty with range bound movements and same happened. Market opened flat as predicted by EquityPandit and fell down sharply near to EquityPandit’s predicted support levels of 5195-5200 for Nifty. Finally market closed just above EquityPandit’s support in negative region.
Today: Indian Stock Market likely to open gap negative with 25-50 points for Nifty and 100-180 points for Sensex. Indian Stock Market closed in negative region just above the support levels and now market looks negative but still would be in rangebound region of 5150-5275 levels for Nifty for next few days. Nifty still possess strong support at 5170-5150 levels for Nifty. If market breaches these support levels then levels of 5050-5000 would be seen soon. Resistance for upmove would hold at 5230-5270 for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
Key results to be declared today: L&T, Colgate Palmolive, Dabur India, Geometric, Hindustan Uniliver, Idea Cellular, Indian Bank, Jubilant Food, Merck, Tata Global and Torrent Pharma.
BSE Sensex: (17158) The support for the Sensex is at 17040-16970-16850 and the resistance to the up move is at 17270-17380-17540.
NSE Nifty: (5205) The support for the Nifty is at 5170-5150 and the resistance to the up move is at 5230-5270.
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