Last Trading Session: Exactly as predicted by EquityPandit that market would open negative gap down with atleast 70+ points for Nfity and 200+ points down for Sensex and same happened. Indian Stock Market opened gap down closed exactly above EquityPandit’s predicted support levels of 5100.

Today: Indian Stock Market will open below 5000 mark for Nifty. Now market is near its biggest support of 5000 for Nifty, Market will see it hard to close below 5000 mark for Nifty. But since whole global market has crashed, if support are breached by the market close than, we can see sharp downtrend till 4850 levels. Though there lies a big worry of downgrading of credit rating from S&P for United States, which saw US market fall by upto 6% and complete global market by 5-7%, Hence Indian Market will also see sharp downtrend today. But this would be only for few days and again market will take reactions. Traders should wait for one day for further clear direction of Indian Stock Market.

BSE Sensex: (16990) The support for the Sensex is 16610-15985 and the resistance to the up move is at 17310-17500.

NSE Nifty: (5118) The support for the Nifty is at 5000-4850 and the resistance to the up move is at 5250-5340.