Last Trading Session: As predicted by EquityPandit that market would open negative with 15-35 points for Nifty and 60-120 points for Sensex and would see movement in rangebound region with strong support at 5275-5260 for Nifty and exactly same happened. Market opened negative exactly on EquityPandit’s predicted levels of 35 points for Nifty and 120 points for Sensex. Market remained rangebound for the whole trading session as predicted by EquityPandit. Market saw support exactly as EquityPandit’s predicted support levels of 5260 for Nifty like a dot. Finally market closed just on EquityPandit’s support of 5275 like a dot.
Today: Market likely to open flat with positive bias. Asian market would develop new trend, once the Chinese data are been declared today. Technically, market has witnessed bear movements and trading below levels of 5260 can force market to see levels of 5200 again. If market breaches levels of 5260 with huge volumens then one should go for short selling. Nifty possess strong support at 5260-5220 whereas strong resistance may be seen at 5320-5335 levels for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.
BSE Sensex: (17392) The support for the Sensex is 17200-17100 and the resistance to the up move is at 17540-17600-17740.
NSE Nifty: (5275) The support for the Nifty is at 5260-5220 and the resistance to the up move is at 5320-5335.
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