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DAILY PREDICTION

Advice for – Monday, May 09, 2011

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Last Trading Session: As predicted by EquityPandit, Market would see some short covering as it is oversold and the same happened. Market closed green on Friday due to short covering.

 

Today: Market expected to open flat with positive bias. Nifty posses strong support at 5500 levels, so traders can go long until 5500 holds. If market ends below 5500 than further down trends would be expected. Investor can remain invested and should take this downfall as an opportunity to buy and invest for midterm.  

 

BSE Sensex: (18469) The support for the Sensex is 18250 and the resistance to the up move is at 18750.

                                    

NSE Nifty: (5537) The support for the Nifty is at 5500 and the resistance to the up move is at 5635.

 

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