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Last Trading Session: Exactly as predicted by EquityPandit that market would open flat and would see some further short covering where strong resistance would be seen at 5478-5505 levels for Nifty and exactly same happened. Market opened flat as per EquityPandit’s predictions. Market saw some further short covering as per EquityPandit’s predictions but saw strong resistance near EquityPandit’s predicted resistance levels of 5505 levels for Nifty. Finally market managed to close just below EquityPandit’s predicted resistance levels of 5478.
Today: Indian Stock Market to open flat. Now, technically 5400 would act as immediate support levels for Nifty whereas 5350-5300 would act as strong support for Nifty. Nifty would see strong resistance at 5505-5530-5552, breaching which Nifty will see sharp positive movements. Some profit booking cannot be ruled out at higher levels. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.
BSE Sensex: (18620) The support for the Sensex is at 18360-18270 and the resistance to the up move is at 18730-18880-19075 levels.
NSE Nifty: (5472) The support for the Nifty is at 5400-5350-5300 and the resistance to the up move is at 5505-5530-5552 levels.
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