Last Trading Session: Exactly As predicted by EquityPandit that market would open flat with negative bias and market would breach levels of 5100 but 5080 would act as strong support for Nifty from where strong short covering is expected and exactly same happened. Market opened flat as predicted by EquityPandit. As per EquityPandit’s prediction, market breached levels of 5100 and plunged down. Market saw support exactly at EquityPandit’s predicted levels of 5080 like a dot from where it saw strong short covering upto levels above 5100. Finally market closed at 5110 for Nifty. Sensex also saw strong support at EquityPandit’s predicted support levels of 16750 and closed just above EquityPandit’s predicted first support of 16840 levels for Sensex.
Today: Indian Stock Market likely to open positive with 10-30 points for Nifty and 30-80 points for Sensex. Indian Stock Market would be very volatile due to F&O Expiry. Nifty would see strong support near 5100-5078 levels hence traders should trade long near 5078-5080 levels with stoploss of 5075 as breaching 5075 would take market to 5030 levels for Nifty. Strong resistance still exists at 5160-5175 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: ACC, Ambuja Cements, Arvind Mills, Bata India, BHEL, Edeweiss Capital, Gujarat Gas, ITC, JSW Steel, Sterlite Industries, Tata Communications, Thermax and Wire and Wireless.
BSE Sensex: (16846) The support for the Sensex is at 16840-16740-16600 and the resistance to the up move is at 17050-17112-17240.
NSE Nifty: (5110) The support for the Nifty is at 5100-5080-5030 and the resistance to the up move is at 5160-5175.
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