Last Trading Session: Exactly As predicted by EquityPandit that market would open flat and had confirmed bearish mode so can go down to 5175 levels where 5175-5150 would act as strong support for Nifty and there is a strong possibility of short covering in the end and exactly same happened. Market opened flat with 5 points positive for Nifty and 8 points positive for Sensex, exactly as per EquityPandit’s prediction. Due to bearish signal, market fell down near EquityPandit’s predicted support levels of 5175 for Nifty and 17040 for Sensex like a dot. Finally market saw short covering rally as per EquityPandit’s prediction and closed in positive range.
Today: Market likely to open gap positive with 25-50 points for Nifty and 80-160 points for Sensex. Indian Stock Market closed with positive and the momentum would be seen further which can take market to the levels of 5275 for Nifty and 17400 for Sensex. Nifty possess strong support at 5170 whereas resistance may be seen at 5270-5286 levels for Nifty. Traders should remain in long position as long as 5230 holds 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: DB Corp, InfoMedia 18, Kirloskar Oil Engines, Dish TV, Dr. Reddy’s Lab, Hero MotoCorp, Kotak Mahindra Bank, Tata Sponge and NIIT Technologies.
BSE Sensex: (17185) The support for the Sensex is 17100-17040 and the resistance to the up move is at 17380-17540.
NSE Nifty: (5216) The support for the Nifty is at 5170 and the resistance to the up move is at 5270-5285.
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