Last Trading Session: Exactly as predicted by EquityPandit that market would open positive and and now short covering would be seen where resistance would be seen at 5475 levels for Nifty and hence traders can go long until Nifty holds 5350 levels and exactly same happened. Market opened positive as per EquityPandit’s predictions. Market saw strong short covering as expected. Market saw high exactly near EquityPandit’s predicted resistance levels of 5475 levels for Nifty and managed to close just below EquityPandit’s predicted resistance levels. Traders who followed EquityPandit’s advice, might have made huge profits.
Today: Indian Stock Market to open positive. Technically, analysis would still remain same and further short covering (positive movements) cannot be ruled out. We can definitely some sustained buying at these levels. Nifty to see immediate resistance at 5505 levels whereas strong resistance may be seen at 5545-5580-5600 levels for Nifty. Strong supports may be seen at 5375-5350-5300 levels for Nifty. Traders can trade long once 5505 breaches with volumes. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (18519) The support for the Sensex is at 18380-18200 and the resistance to the up move is at 18600-18720-18880 levels.
NSE Nifty: (5472) The support for the Nifty is at 5375-5350-5300 and the resistance to the up move is at 5505-5545-5580 levels.
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