Friday Trading Session: As predicted by EquityPandit that market would open negative with 40-60 points for Nifty and 110-140 points for Nifty with strong support at 4700 for Nifty for closing  and would went up sharply from support levels on Friday and exactly same happened. Market opened gap negative exactly with 40 points down and fell down sharply as predicted by EquityPandit and saw strong support near 4700 and as predicted by EquityPandit that sharp positive movement would be seen at support levels and hence market went up sharply from there closing flat with positive bias. Special trading session of 90 minutes was held on Saturday for testing of upgradation done for software and hardware systems at NSE where market opened and closed flat with 7 points down for Nifty and 18 points for Sensex.

Today: Market likely to open negative with atleast 40-60 points for Nifty and 130-160 points for Sensex. Technically, analysis would still remain same and market is still weak and would see further downside. If market sees levels of 4785 in upcoming days, then it would be a trigger to lengthened positive duration. Market needs to breach 4820 levels for Nifty on the positive side to see strength, until then market is weak and may be considered to see 5-7% downside from here. Breaching 4820 for Market by closing would give sharp buy signal and may result market to see levels of 5000 for Nifty. Market may see profit booking at higher levels as there is lot of uncertainty lying around the globe. Nifty posses immediate support at 4690 and strong support at 4640 whereas resistance to move up may be seen at the levels of 4820-4865 levels for Nifty. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (15849) The support for the Sensex is 15730-15640-15478 and the resistance to the up move is at 16186-16430.

NSE Nifty: (4747) The support for the Nifty is at 4690-4640 and the resistance to the up move is at 4820-4865.

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