Last Trading Session: Exactly as predicted by EquityPandit that market would open positive with 15-30 points for Nifty and 40-80 points for Sensex and would see strong resistance near 5150 levels for Nifty and 16950 levels for Sensex and same happened. Market opened positive exactly with EquityPandit’s predicted levels of 15 points for Nifty and 43 points for Sensex. Market remained rangebound for the day as expected and saw strong resistance near EquityPandit’s predicted resistance levels of 5150 for Nifty and 16950 levels for Sensex. Finally market managed to close positive for the day.

Today: Indian Stock Market likely to open negative with 10-25 points for Nifty and 30-70 points for Sensex. Indian Stock Market now can see some small profit booking at higher levels. Market is seeing strong resistance near 5150-5180 levels and is not able to breach those levels. Breaching 5150-5180 levels may take market higher. Traders can long until 5100 holds for Nifty. Investors can still hold their investments for further gains. Market would remain rangebound and would still see sideways movement between 5100-5060 at lower side and 5150-5180 at higher side for Nifty and breach of any of these levels would further decide the market direction. Nifty possess strong support at 5100-5060 levels whereas resistance may be seen at 5150-5180-5200 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: (16897) The support for the Sensex is 16750-16660 and the resistance to the up move is at 16950-17050.

NSE Nifty: (5121) The support for the Nifty is at 5100-5060 and the resistance to the up move is at 5150-5180-5200

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