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Last Trading Session: Market opened flat yesterday. As predicted by EquityPandit that Market would remain rangebound with sideways movements and strong resistance would be seen at 5305 levels for Nifty and exactly same happened. Market saw sideways movements and has seen strong resistance exactly at EquityPandit’s predicted resistance levels of 5305 from where market reverted and closed flat.
Today: Indian Stock Market would open positive with 10-30 points for Nifty. Technically analysis would remain same. Indian Stock Market would still see sidewasy movements and remain in the region of 5200-5375 for some time where 5200 would emerge as an important support for Nifty. Nifty would possess strong support at 5200 whereas resistance may be seen at 5302-5375 levels for Nifty. Resistance of 5302 my get breached if market keeps momentum, which would move market sharply positive. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
BSE Sensex: (17399) The support for the Sensex is 17200-17100 and the resistance to the up move is at 17504-17600-17740.
NSE Nifty: (5279) The support for the Nifty is at 5200 and the resistance to the up move is at 5305-5375.
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