Profit Note: EP-F&O Special package gave profits of Rs.34,000 on one lot traded for 2 calls given  to all its subscribers on last trading session, even though market was very bad.

Last Trading Session: As predicted that market would open flat and would see strong resistance near 5000 mark for Nifty, which in case breached, can see market to fall further sharply and same happened. Market opened flat and breached 5000 levels for Nifty which was a strong psychological support of Nifty and thereafter fall down sharply to 4940 levels for Nifty. Sensex closed exactly near our support of 16450 level.

Today: Market likely to open gap down with atleast 90+ points for Nifty and 300 points for Sensex. A sudden news on European market has created big worries for Asian and US markets. European banks are expecting big losses and huge debts. Now since we told earlier that if market closes below 4950 levels which was a very strong support for Nifty after 5000 levels, it can go upto 4800 levels. Market is over stretched now. And we suggest traders to short until Nifty breaches 5000 levels. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits. Traders can take help of EP-Basic or EP-F&O Special Package of EquityPandit in this type of market as these packages provides consistent profits in any market direction. Investors are suggested to wait and watch before pumping more money. EP-Investor Package would not work to its best in falling markets.

BSE Sensex: (16470) The support for the Sensex is 16000-15985 and the resistance to the up move is at 16670-17020.

NSE Nifty: (4944) The support for the Nifty is at 4800-4775 and the resistance to the up move is at 5065-5200.