Yesterday: Market opened with big gap up opening led by RIL as RIL was up by 4% but after that market corrected & again recover & again failed down which has shown that bear is not in the mood to surrender. But market closed flat n still closed above 4950.

Today: Indian Stock Market would open with negative note even though global markets are quite supportive. If 4950 is taken out in today’s trade than next target on Monday would be 4900 for sure. But till that lets keep our fingered cross as now a days market had tendency to surprise all of us.  

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BSE Sensex: (16844) The support for the Sensex is 16800-16500 and the resistance to the up move is at 17200.

NSE Nifty: (4989) The support for the Nifty is at 4950 and the resistance to the up move is at 5050-5100.

F&O Cues: FII were net buyers of 473cr in index future & net sellers of 788cr in stock future.