Last Trading Session: Exactly as predicted by EquityPandit that market would open negative with 25-50 points for Nifty and 100-150 points for Sensex and and would see more downside until 4925-4900 levels for Nifty. Also market would see strong support at 4900-4855 levels for Nifty and exactly same happened. Market opened gap negative with EquityPandit’s predicted levels of 50 points for Nifty and 150 points for Sensex. Market saw strong support between the levels of 4900-4855 for Nifty. By the end of the market session, Reliance Industries positive movement forced market to close somewhat flat. Nifty and Sensex closed just on EquityPandit’s predicted support levels of 4925 for Nifty and 16200 for Sensex.

Today: Market likely to open flat to negative. Indian stock market still in profit booking mode and can see further downtrend. Nifty possesses strong support at 4865 and resistance to upmove can be seen at 4975-5000 levels.  Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

Key Results today: Mphasis

BSE Sensex: (16219) The support for the Sensex is 16100-16000 and the resistance to the up move is at 16380-16440-16540.

NSE Nifty: (4924) The support for the Nifty is at 4865 and the resistance to the up move is at 4975-5000.

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