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Last Trading Session: Exactly as predicted by EquityPandit that market would open flat with positive bias and Infosys may see big positive movement but overall direction of market is negative as Nifty is making a distribution pattern and exactly same happened. Market opened flat with positive bias as per Equitypandit’s predictions. Infosys moved up 7% as predicted by EquityPandit but market fell sharply near to EquityPandit’s predicted support levels of 5940-5900 and closed just below 5940 levels for Nifty like a dot.
Today: Indian Stock Market likely to open flat. Technically, Market is still developing a distribution pattern, which says that it can see levels of 5750-5700 in this month. Breaching levels of 5900 would confirm sharp downtrend. Some short covering may be seen near supports but overall Nifty direction is negative. Nifty possess strong support at 5900-5850-5800 levels whereas resistance would be seen at 6000-6030-6070 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: (19610) The support for the Sensex is at 19504-19380-19200 and the resistance to the up move is at 19865-19950-20075 levels.
NSE Nifty: (5939) The support for the Nifty is at 5900-5850-5800 and the resistance to the up move is at 6000-6030-6070 levels.
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