Last Trading Session: Exactly As predicted by EquityPandit that market would open positive with 35 points for Nifty and 100 points for Sensex and would see strong resistance at 5230 levels for Nifty and 17204 levels for Sensex and exactly same happened. Market opened positive with EquityPandit’s predicted levels of 35 points for Nifty and 100 points for Sensex like a dot. Market saw high exactly at EquityPandit’s predicted resistance levels of 5230 levels for Nifty and 17204 levels for Sensex like a dot. Finally as EquityPandit predicted that market is bearish and profit booking would be seen, market fell sharply losing all the gains in early trade and ended in negative region.
Today: Indian Stock Market likely to open flat. Now Indian stock market has confirmed its bearish mode when all the asian countries ended positive but Indian Stock market closed negative. It is the sign of bearish market and until some strong actions are not taken by RBI for growth and inflation don’t settle down, market would be choppy. Anyhow since Indian stock market possesses strong supports at 5175-5150 levels, hence there is strong possibility for some short covering at this point of time. But remember, it would be temporary and longs should not be taken until market breaches levels of 5230 with huge volumes. Nifty possess strong resistance at 5230-5275 levels. 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: Bajaj Auto, Bajaj Holdings, CRISIL, Honeywell Automation, Kirloskar Brothers and Ingersoll Rand
BSE Sensex: (17105) The support for the Sensex is 17040-16950 and the resistance to the up move is at 17204-17380-17540.
NSE Nifty: (5193) The support for the Nifty is at 5175-5150 and the resistance to the up move is at 5230-5275.
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