Last Trading Session: Exactly as per EquityPandit’s predictions, Indian Stock Market opened flat with negative bias. Market saw further downtrend as per EquityPandit’s predictions. As EquityPandit predicted, IT and Pharma sectors acted as defensive in the falling market and lead the market. WPI Inflation also came at 5 months high and US Dollar again crossed Rs.60 mark. Finally, market saw some short covering but ended in negative region.

Today: Indian Stock Market may open flat but Iraq violence would still be a worry for Indian Markets. Indian Stock Market would see further downtrend due to global issues, where IT and Pharma would still act as defensive and savor for the markets. Technically, 7500-7480-7450 would act as strong support for Nifty. Suggestion would remain same and markets may see some downtrend but Traders should not short at this point of time. They should wait for longs at dips rather than shorting at these levels. Some downtrend in the market is required, so that new positive momentum develops after budget. Nifty would see strong resistance at 7550-7605-7680 levels for Nifty, whereas support would be seen at 7500-7480-7450. Since, EquityPandit’s support and resistance levels always meet accuracy; hence traders are suggested to follow them for good profits.

NSE Nifty: (7534) The support for the Nifty is at 7500-7480-7450 and the resistance to the up move is at 7550-7605-7680 levels.

BSE Sensex: (25190) The support for the Sensex is at 25000-24950-24720 and the resistance to the up move is at 25450-25650 levels.

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