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DAILY PREDICTION

Advice for – Thursday, May 12, 2011

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Last Trading Session: As predicted by EquityPandit, Market possesses strong support at 5500 levels and traders can go long until 5500 holds and same happened. Market saw strong support at 5500 and managed to close minimally green.

 

Today: Market expected to open negative. Market is showing sideways movement and is now ready to see any directional movement. Nifty posses strong support at 5500 levels, so traders can go long until 5500 holds. Nifty can test 5500 levels. 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: (18585) The support for the Sensex is 18250 and the resistance to the up move is at 18750.

                                    

NSE Nifty: (5565) The support for the Nifty is at 5500 and the resistance to the up move is at 5635.

 

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