Last Trading Session: As predicted by us that market would see sharp downtrend, Market has gone in red. It had some support at 5030 but then it broke that support levels also.

Today: Indian stock market still looks negative. Next support levels would exist at 4985. No signs of strength have been seen yet. Breaking 4985 levels for Nifty would see further sharp downtrend. Any uptrend would have equal and opposite reaction.

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BSE Sensex: (16770) The support for the Sensex is 16580 and the resistance to the up move is at 16850.

NSE Nifty: (5018) The support for the Nifty is at 4985-4950 and the resistance to the up move is at 5040-5100.