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Last Trading Session: Exactly as predicted by EquityPandit that market would open negative and would see short covering from there but strong resistance would be seen at 5980 levels for Nifty, from where strong profit booking would be seen and overall market direction is still negative and exactly same happened. Market opened negative as per EquityPandit’s predictions. Market saw short covering from there as expected by EquityPandit. Market saw high right on EquityPandit’s predicted resistance levels of 5980 like a dot and fell sharply from there. Finally market closed negative for the day.
Today: Indian Stock Market likely to open positive. US job data would give positive push to Indian Stock Market. Market would see some short covering. Nifty possess strong support at 5870-5850-5800 levels whereas resistance would be seen at 5958-5980-6000 levels for Nifty. But If Nifty is unable to breach EquityPandit’s predicted resistance levels and is not able to hold the support levels then sharp downfall is expected. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (19429) The support for the Sensex is at 19380-19200 and the resistance to the up move is at 19600-19750-19865 levels.
NSE Nifty: (5881) The support for the Nifty is at 5870-5850-5800 and the resistance to the up move is at 5980-6000-6030 levels.
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