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Advice for – Thursday, February 23, 2012

posted by ABHISHEK-PARAKH on Thursday, February 23rd, 2012

Last Trading Session: Market opened flat and moved positive to look at the high of 5630 just below EquityPandit’s predicted resistance levels of 5645. Sharp profit booking was seen from those levels and took market to 5500 levels. Sensex also saw supports just near EquityPandit’s predicted support levels of 18150. Finally market ended with weaker note for F&O Expiry.

Today: Market likely to open negative. Market is now in F&O expiry day. Market trend would be highly volatile. Market has entered F&O Expiry with a weaker note and hence we can see more profit booking going further. 5597 would be considered as strong resistance level now with 5470-5420 as support levels for Nifty. Traders can short until 5542 holds for Nifty on the positive side. Since EquityPandit’s support and resistance levels always meet accuracy, hence traders are suggested to follow them for good profits.

BSE Sensex: (18145) The support for the Sensex is 17958-17850 and the resistance to the up move is at 18230-18425.

NSE Nifty: (5505) The support for the Nifty is at 5470-5420 and the resistance to the up move is at 5597.

Equity Pandit

posted by ABHISHEK-PARAKH on Thursday, February 23rd, 2012

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