Last Trading Session: Exactly As predicted by EquityPandit that market would open flat and would possess strong support at 5100 from where strong short covering would be seen and exactly same happened. Market opened flat with positive bias for Nifty as predicted by EquityPandit. Market saw support exactly at EquityPandit’s predicted support levels of 5100 for Nifty and as predicted by EquityPandit, Nifty saw sharp short covering from 5100 to 5140. Finally market closed positive for the day.
Today: Indian Stock Market likely to see flat opening with negative bias. Indian Stock Market has seen strong support at 5100 and has seen sharp short covering from there which is a positive news but worsen Global woes are generating more impact on Indian Stock Market, hence there are fair chances to breach levels of 5100 for Nifty and see supports at 5080, breaching which, market would directly see supports at 5030 levels. F&O Expiry is 2 days ahead and hence huge volatility is also expected. Traders should buy near 5100 levels, hold between 5100 and 5080 levels and short if 5080 levels are breached for Nifty. Nifty would see strong resistance at 5160-5175 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: Biocon, Gujarat Industries, HCL Technologies, Indiabulls Real Estate, JSW Ispat, Jubilant food, MRF, NIIT, Novarits India, Power Grid corportation, Raymond, SRF, Tata Teleservices, Vardhman Textiles, Vijaya Bank and Yes Bank.
BSE Sensex: (16918) The support for the Sensex is at 16840-16740-16600 and the resistance to the up move is at 17050-17112-17240.
NSE Nifty: (5128) 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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