Index Levels
BSE Sensex 18512.77 NSE Nifty 5541.25
Major Support 18429 – 18160 Major Support 5514 – 5472 – 5443
Major Resistance 18689 – 18757 – 18979 Major Resistance 5592 – 5627 – 5689
View
The indices closed the day on an indecisive note with the indices forming spinning top patterns on candlestick charts. The indices have been trading on the trending line for the last 4 days. With the current dull activity in the markets due to lack of triggers it is quite possible that the indices sell off further. Watch resistance for the Sensex @ 18689 and for the Nifty @ 5592 levels. Below these levels the indices would trade weak. As of now it is better to hold a low profile…
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Market View for Tuesday 10 May 2011
Index Levels
BSE Sensex 18528.96 NSE Nifty 5551.10
Major Support 18367 – 18271 – 18160 Major Support 5502 – 5472 – 5443
Major Resistance 18643 – 18757 – 18979 Major Resistance 5586 – 5627 – 5689
View
The indices closed with a choppy trade as triggers were missing. The current move has seen the indices ride on the trending line. It is important to see whether the markets manage to give a big move on the either side. And this would be a deciding move for the markets as it would decide the short term trend in the markets. For the Sensex watch support @ 18367 and for the Nifty it exists @ 5502 levels. On the higher side resistance comes in @ 18643 and 5586 for the Sensex and the Nifty respectively. Hold a scrip specific view…
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Market View for Friday 06 May 2011
Index Levels
Major Support 18160 – 17792 – 17469 Major Support 5443 – 5348 – 5232
Major Resistance 18347 – 18484 – 18569 Major Resistance 5495 – 5531 – 5560
View
The markets crack the support coming in from a rising trend line joining all bottoms from February 2011. This is a bad sign for the short term as the weakness would continue with the indices selling off further to test earlier supports. As the markets get ready to trade on the last day of the week the indices have a resistance @ 18347 – 18484 for the Sensex and 5495 – 5531 for the Nifty. Below these levels the indices would trade weak. On the lower side supports come in from the earlier lows made in February and January 2011. These levels exists @ 18160 – 17792 for the Sensex and 5443 – 5348 for the Nifty. Hold a Low Profile…
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Market View for Thursday 05 May 2011
Index Levels
Major Support 18339 – 18269 – 17972 Major Support 5503 – 5445 – 5411
Major Resistance 18604 – 18757 Major Resistance 5578 – 5627
View
The markets traded dull and sideways throughout yesterday’s trading session. The indices have now closed on supports coming in from an up trending line joining all the recent bottoms from February 2011 onwards. If the indices manage to take support then expect the indices to buck the trend for the last few days and display a bullish move. Supports for the day come in @ 18339 for the Sensex and 5503 for the Nifty. On the higher side resistance comes in @ 18604 for the Sensex and 5578 for the Nifty. Hold a low profile…
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Market View for Tuesday 03 May 2011
Index Levels
BSE Sensex 18998.02 NSE Nifty 5701.30
Major Support 18976 – 18400 – 17792 Major Support 5693 – 5531 – 5348
Major Resistance 19111 – 19224 – 19253 Major Resistance 5734 – 5766 – 5775
View
The markets sold off another round today. The markets were cautious ahead of a RBI policy meet scheduled tomorrow. The bank stocks were the worst hit in the selloff. The markets have closed above crucial supports and they need to be watched again for another day. These levels come in @ 18976 for the Sensex and 5693 for the Nifty. If these levels are broken then expect the markets to crack further. If the markets manage to hold on to these levels then the markets would trade choppy and dull. On the higher side resistance exists @ 19111 for the Sensex and 5734 for the Nifty. Hold a scrip specific view…
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Market View for Monday 02 May 2011
Index Levels
BSE Sensex 19135.96 NSE Nifty 5749.50
Major Support 18976 – 18400 – 17792 Major Support 5693 – 5531 – 5348
Major Resistance 19337 – 19697 – 19811 Major Resistance 5804 – 5859 – 5906
View
The markets sold off during the week maintaining their short term range facing resistance from the falling trend line. As we get ready to trade the next week market players need to keep a close watch on the supports. These levels come in @ 18976 for the Sensex and 5693 for the Nifty. These are the supports which come in from the lows made in this short term range. These if broken on the lower side would see the indices falling down further to test the earlier lows made in March this year. On the higher side all moves will be capped as the indices reach the resistance or the higher end of this short term range which incidentally is also a level of the falling trend line. Markets lack triggers on the global as well as the domestic front. The earnings season continues and would see the indices dancing on the numbers coming out. It is advisable to hold a low profile for now.
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Market View for Friday 29 Apr 2011
Index Levels:
Major Support 19171 – 18976 Major Support 5759 – 5693
Major Resistance 19412 – 19532 Major Resistance 5818 – 5851
View:
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Market View for Thursday 28 Apr 2011
Index Levels :
BSE Sensex 19448.69 NSE Nifty 5833.90
Major Support 19412 – 19306 – 18976 Major Support 5819 – 5791 – 5693
Major Resistance 19633 – 19695 Major Resistance 5892 – 5912
View :
The markets continued to trade sideways choppy and dull. Another day of range bound activity. The markets continue to lack triggers as India is caught by scams. The results too don’t seem to bring in anything good for the markets players to cheer for. As of now expect the markets to continue their choppy trade. For the Sensex watch support @ 19412 and for the Nifty @ 5819 levels. On the higher side resistance comes in @ 19633 for the Sensex and 5892 for the Nifty. It is advisable to hold a scrip specific view…
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Market View for Wednesday 27 Apr 2011
Index Levels:
Major Support 19306 – 18976 Major Support 5791 – 5693
Major Resistance 19626 – 19695 Major Resistance 5893 – 5912
View:
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Market View for Tuesday 26 Apr 2011
Index Levels:
Major Support 19531 – 19372 – 19171 Major Support 5857 – 5818 – 5786
Major Resistance 19697 – 19737 – 19811 Major Resistance 5912 – 5923 – 5944
View:
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Market View for Thursday 21 Apr 2011
Index Levels :
Major Support 19372 – 19274 – 19171 Major Support 5818 – 5786 – 5759
Major Resistance 19649 – 19737 – 19811 Major Resistance 5897 – 5923 – 5944
View :
The markets closed on a positive note after trading volatile during the day. As I have been writing the markets would remain volatile as the earnings season continues. As the indices move up they would face resistance @ 19649 – 19737 levels for the Sensex and 5897 – 5923 levels for the Nifty. On the lower side support exists 19372 for the Sensex and 5818 for the Nifty. The view would remain stock specific.
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Market View for Tuesday 19 Apr 2011
Index Levels :
BSE Sensex 19091.17 NSE Nifty 5729.10
Major Support 19071 – 18949 – 18799 Major Support 5722 – 5680 – 5643
Major Resistance 19240 – 19389 – 19649 Major Resistance 5776 – 5824 – 5897
View :
The markets sold off big way yesterday after witnessing a rally in the first half of the session. With the earnings season on this volatility is expected to stay in the markets. The indices can further go down by 2 to 3% in the immediate short term. during this period of companies announcing their numbers the Nifty could see itself hovering between 5400 to 5900 levels before it could decide its further direction. For the day watch resistance @ 19240 – 19389 for the Sensex and 5776 – 5824 for the Nifty. Below these levels the indices are expected to trade weak. On the lower side supports come in @ 18799 for the Sensex and 5643 for the Nifty. Hold a scrip specific view…
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Market View for Friday 15 Apr 2011
Index Levels :
Major Support 19441 – 19187 Major Support 5829 – 5747
Major Resistance 19737 – 19811 Major Resistance 5923 – 5944
View :
The markets jumped after a small correction witnessed in the prior few days. Earnings season is expected to decide the direction for the markets during this month. The current levels are crucial as they will face resistance from a falling trend line joining the recent tops for the indices. If these are broken then we are heading for the next tops. Supports for the indices come in @ 19441 and 5829 for the Sensex and the Nifty respectively. On then higher side resistance should be watched @ 19811 for the Sensex and 5944 for the Nifty. Hold a low profile…
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Market View for Wednesday 13 Apr 2011
Index Levels:
Major Support 19242 – 19178 – 18949 Major Support 5777 – 5753 – 5686
Major Resistance 19426 – 19602 – 19697 Major Resistance 5805 – 5830 – 5886
View:
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Market View for Monday 11 Apr 2011
Index Levels
BSE Sensex 19451.45 NSE Nifty 5842.00
Major Support 19388 – 19110 – 18799 Major Support 5822 – 5735 – 5645
Major Resistance 19811 Major Resistance 5944
View
Last week the indices closed on an indecisive note with the candlestick formation being DOJI. The week has seen the indices consolidating as they get ready to face the earnings season which starts today onwards. As of levels the indices would face resistance @ 19811 for the Sensex and 5944 for the Nifty. With these levels acting as major resistance and the uncertainty of the earnings season the overall markets are expected to consolidate. On the lower side supports should be watched @ 19110 for the Sensex and 5735 for the Nifty. Hold a scrip specific view
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Market View for Friday 08 Apr 2011
Index Levels
BSE Sensex 19591.18 NSE Nifty 5885.70
Major Support 19537 – 19449 – 19284 Major Support 5866 – 5833 – 5778
Major Resistance 19665 – 19811 Major Resistance 5906 – 5944
View
The indices continued to trade sideways and indecisive for a third day in row. The earnings season starts next week and the markets are expected to take cues from the numbers. The current levels would make the markets jittery with resistance coming from the falling trend line. The markets should correct in the short term and would search for reasons to do so. For the day Sensex has a resistance @ 19665 and Nifty has it @ 5906 levels. On the lower side supports come in @ 19537 for the Sensex and 5866 for the Nifty. Hold a scrip specific view and wait for good opportunities to jump on to…
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Market View for Thursday 07 Apr 2011
Index Levels
BSE Sensex 19612.20 NSE Nifty 5891.75
Major Support 19550 – 19449 – 19284 Major Support 5868 – 5833 – 5778
Major Resistance 19811 – 19770 – 20070 Major Resistance 5944
View
The indices trade sideways throughout the day after opening flat in the morning. This was expected as the indices reached resistance from the falling trend line coming from the November highs. The undercurrent lived as the indices managed to hold on ground and did not fall. For the indices the resistance exists @ 19811 for the Sensex and 5944 for the Nifty. On the lower side supports come in @ 19550 for the Sensex and 5868 for the Nifty. The markets are expected to trade choppy with action witnessed in side counters. Hold a Scrip specific view…
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Market View for Wednesday 06 Apr 2011
Index Levels
BSE Sensex 19686.82 NSE Nifty 5910.05
Major Support 19523 – 19449 – 19382 Major Support 5855 – 5833 – 5810
Major Resistance 19770 – 20070 Major Resistance 5928 – 5935
View
The indices traded choppy as expected. They opened flat and witnessed sell off during the first half of the day latter recovering to close near where they had opened. The earnings season starts and the indices by now have reached resistance levels along with having witnessed a sharp rally in the last few days. This should make them gasp for oxygen at current levels. But remember as the indices take a breather the action would shift to side counters or small caps. This could also be risky therefore better wait for a good opportunity them jump on any tom, dick or harry. As of levels the Sensex has a resistance @ 19770 and the Nifty has it @ 5928. These levels are the highs made by the indices on Tuesday. For the pattern on the current closing to look like a hanging man the closing of the next day’s candle has to be in the red means opening near the earlier closing to end the day at near the lows of the earlier candle. On the lower side supports come in @ 19523 for the Sensex and 5855 for the Nifty. Hold a Low Profile…
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Market View for Tuesday 05 Apr 2011
Index Levels
BSE Sensex 19701.73 NSE Nifty 5908.45
Major Support 19587 – 19473 Major Support 5875 – 5842
Major Resistance 19927 – 20070 Major Resistance 5935 – 5967
View
The markets continued to ride the bull wave with the indices galloping past the resistance from the upper end of the up trending channel. The indices now will face resistance from the falling trend line from the highs made in November 2010. These levels could make the indices volatile as they try to sustain at those levels. The beaten stocks have had an opportunity to jump during this period and it is important for us to know that stocks with price patterns are the best ones to be picked because in a period of uncertainty it better to stick to stocks with some valid reasoning. Price patterns not only display the positions stuck on bullish or the bearish side but also provide us a price target. For the Sensex watch major resistance @ 20070 and for the Nifty @ 5935 levels. On the lower side supports are expected to come in @ 19587 for the Sensex and 5875 for the Nifty. Hold a scrip specific view…
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Market View for Monday 04 Apr 2011
Index Levels
BSE Sensex 19420.39 NSE Nifty 5826.05
Major Support 19110 – 18799 Major Support 5735 – 5645
Major Resistance 19575 – 19714 Major Resistance 5872 – 5901
View
The markets closed the week on bullish note after an idle period of more than a month. With this closing the markets have reached the upper end of the channel which is into existence from November 2009. On breaching these levels the indices would head for 20000 for Sensex and 5900 level for the Nifty. These levels would actual test the strength of the market as well as the market players. Scrip specific action is expected to rule the markets during this month as the earnings season starts. For the coming week immediate levels of resistance for the Sensex exists @ 19575 and for the Nifty @ 5872. On the lower side supports come in @ 19110 for the Sensex and 5735 for the Nifty. HOLD A LOW PROFILE
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Market View for Friday 01 Apr 2011
Index Levels
BSE Sensex 19445.22 NSE Nifty 5833.75
Major Support 19284 – 19178 – 18949 Major Support 5778 – 5755 – 5686
Major Resistance 19575 Major Resistance 5872
View
The last seven trading sessions of the March derivatives contract expiry witnessed the indices inching northwards. The markets opened more or less flat and moved up to trade sideways thereafter. These sessions have displayed identical moves. A new contract starts and so would be new sentiments which would get hold of the markets. For now the indices seem to be stretched and may lose steam at current levels. If the markets open flat then expect them to correct. Choppiness would remain high. For the markets to steam full force ahead from current levels they would require a lot of energy in form of money flow. If this really happens then it would mean that the strong hand in the markets basically the FII’s have a bullish view on the outcome of the earnings season which starts next week onwards. As of levels the Sensex has a major resistance @ 19575 and the Nifty has it @ 5872 levels. On the lower side supports come in @ 19284 for the Sensex and 5778 for the Nifty. Hold a scrip specific view…
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Market View for Thursday 31 Mar 2011
Index Levels
BSE Sensex 19290.18 NSE Nifty 5787.65
Major Support 19178 – 18949 – 18799 Major Support 5755 – 5686 – 5645
Major Resistance 19340 – 19357 Major Resistance 5801 – 5803
View
The day started off on a bullish note with the indices displaying a good move at the open. The latter day was dull with low participation. The markets now have reached crucial resistance levels and are expected to face tough times as they try to rally from current levels. Major Resistance for the Sensex exists @ 19357 and for the Nifty @ 5803. In Technical Analysis prices tend to move as per their movement in the past and supports tend to become resistance and vise versa after they are breached. Due to this the importance of the current resistance levels has increased. With fresh contracts starting on Friday the markets could be in a different mood to trade. On the lower side supports exists @ 19178 for the Sensex and 5755 for the Nifty. A breakout above these resistance levels will require a lot of courage and flow of money. If they fail to rally then expect them to correct for now. Last day of the week, the India-Pakistan match hangover and the excitement of the World Cup final should be used to hold a low profile for the day.
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Market View for Wednesday 30 Mar 2011
Index Levels
BSE Sensex 19120.80 NSE Nifty 5736.35
Major Support 18949 – 18799 – 18648 Major Support 5686 – 5645 – 5621
Major Resistance 19226 – 19340 Major Resistance 5770 – 5801
View
The markets continued to move northwards. As the indices reached the resistance band mentioned yesterday they continued to feel the heat. Today with an important World Cup encounter coming up the markets are expected to trade with low volumes. For the Sensex resistance exists @ 19226 and for the Nifty @ 5770. On the lower side supports come in @ 18949 for the Sensex and 5686 for the Nifty. Expect a choppy session ahead. Hold a Low Profile for the day. Today let’s take some time out to cheer India as they get ready to reply on A Wednesday. JITEGA BHAI JITEGA MERA INDIA JITEGA… Another important thing is the whole world is cheering India enjoying a holiday but here in Precision our support team would be working, providing support to all PT product users. Our team will be cheering India as they watch the match in office and also be providing support to all. Do call us if you need help
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Market View for Tuesday 29 Mar 2011
Index Levels
BSE Sensex 18943.14 NSE Nifty 5687.25
Major Support 18799 – 18648 – 18480 Major Support 5645 – 5621 – 5560
Major Resistance 19024 – 19086 – 19340 Major Resistance 5709 – 5725 – 5801
View
As mentioned yesterday the markets moved towards the resistance levels and faced the heat. The trade was choppy and failed to sustain at higher levels. For the Sensex and the Nifty 19000 and 5700 are sentimental barriers and during the downfall these are the levels which had provided them support. This week is also the expiry for March derivative contracts. Expect the choppiness to rise as the financial year ends. For the day watch resistance for the Sensex @ 19024 and for the Nifty @ 5709. On the lower side supports come in @ 18799 for the Sensex and 5645 for the Nifty. Hold a scrip specific view. It still is not the right time to get in confidently in the markets. The numbers starting April could bring in some hope and PROFISION charts would be first to pick such opportunities. Therefore relax and enjoy the world cup matches. Because relaxation would not be possible once the action starts in the market
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Market View for Monday 28 Mar 2011
Index Levels
BSE Sensex 18815.64 NSE Nifty 5654.25
Major Support 18400 – 17984 – 17792 Major Support 5531 – 5408 – 5348
Major Resistance 18858 – 19095 – 19340 Major Resistance 5717 – 5801
View
The markets managed to break past the short term resistance. The last two months have seen the markets stay range bound and trade dull. A good trend in the market will bring in investors large as well as small. It is important now to witness some good numbers being announced by companies as they come out with results during the month of April 2011. For the coming week Sensex has a support @ 18400 and Nifty has it @ 5531 levels. On the higher side resistance exists @ 19095 for the Sensex and 5717 for the Nifty. The higher side can be capped at the resistance levels but the overall mood is expected to remain positive. It is still time to wait for good opportunities to jump on to. Till we have some nice patterns coming it is better to hold a low profile…
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Market View for Friday 25 Mar 2011
Index Levels
BSE Sensex 18350.74 NSE Nifty 5522.40
Major Support 18269 – 18089 – 17972 Major Support 5496 – 5445 – 5411
Major Resistance 18373 – 18463 – 18583 Major Resistance 5529 – 5537 – 5563
View
The markets opened positive and managed to close in the green. The day was in general dull with the indices trading range bound throughout the day. The volumes remained low as majority of stocks traded flat. It’s the last day of the week and is expected to more or less like the trades that we have seen lately. For the Sensex resistance exists @ 18373 and for the Nifty it exists @ 5529 levels. On the lower side supports come in @ 18269 for the Sensex and 5496 for the Nifty. Hold a Low Profile…
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Market View for Thursday 24 Mar 2011
Index Levels
BSE Sensex 18206.16 NSE Nifty 5480.25
Major Support 18089 – 17972 Major Support 5445 – 5411
Major Resistance 18463 – 18583 – 18736 Major Resistance 5537 – 5563 – 5608
View
The markets traded bullish yesterday with the opening being in the negative but the latter day being a one way rally northward. The indices continue to trade in a range with one day closing in the green and the other in the red. As they move up further today the indices are expected to face resistance @ higher levels. for today watch resistance @ 18463 – 18583 for the Sensex and 5537 – 5563 for the Nifty. On the lower side support exists @ 18089 for the Sensex and 5445 for the Nifty. The markets are expected to trade dull with low volumes as they reach these resistance levels. Hold a Low Profile…
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Market View for Wednesday 23 Mar 2011
Index Levels
BSE Sensex 17988.30 NSE Nifty 5413.85
Major Support 17878 – 17792 Major Support 5376 – 5348
Major Resistance 18041 – 18251 Major Resistance 5428 – 5483
View
The markets continued to trade in a narrow range throughout the day. The volumes too remained low and recently they have come down to half of the regular ones. Lack of triggers has made the markets narrow down their band of movement. This is a good sign for the markets because when such patterns form the prices tend to move big way in the direction of the breakout. With such a formation happening it would be better to wait for the right opportunity to pounce on. For the Sensex watch resistance @ 18041 and for the Nifty @ 5428 levels. On the lower side support exists @ 17878 for the Sensex and 5376 for the Nifty. Hold a Low Profile…
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Market View for Tuesday 22 Mar 2011
Index Levels
BSE Sensex 17839.05 NSE Nifty 5364.75
Major Support 17792 – 17469 Major Support 5348 – 5232
Major Resistance 18007 – 18251 Major Resistance 5413 – 5483
View
The markets continued to trade dull. The morning trade saw the indices moving up and down in a good trend but the latter day was range bound with the momentum drying up. This mainly is due to the lack of triggers on the global, domestic as well as individual company’s front. This mood is expected to continue for another two weeks till the companies start announcing their yearly numbers. The indices currently are poised for a breakout but being in a range it is better for us to have a wait and watch approach. This means it would be better for us to wait for a breakout and then decide a strategy for the positions to be entered. As of levels for the Sensex today watch support @ 17792 and for the Nifty @ 5348 levels. on the higher side resistance comes in @ 18007 for the Sensex and 5413 for the Nifty. Hold a low profile…
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Market View for Monday 21 Mar 2011
Index Levels
BSE Sensex 17878.81 NSE Nifty 5373.70
Major Support 17469 – 17295 Major Support 5232 – 5177
Major Resistance 18167 – 18463 Major Resistance 5436 – 5537
View
The markets continue to trade with weakness. The current consolidation is witnessing sell off coming in at all high levels. With lack of triggers the indices seem to lose their sheen as and when they try to rally. At current levels the indices are crucial poised and the outcome of a breakout is going to decide the short to medium term future for the markets. The next trigger for the markets is the yearly numbers which start in the first week of April. For now expect the weakness to continue and wait for a breakout to happen above or below the consolidation levels. As for levels the Sensex has a resistance @ 18167 – 18463 levels and the Nifty has it @ 5436 – 5537 levels. Below these levels stocks would trade under pressure and interest could also be seen shifting to mid and small cap stocks. On the lower side watch crucial supports @ 17469 – 17295 for the Sensex and 5232 – 5177 for the Nifty. Hold a Low Profile
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Market View for Friday 18 Mar 2011
Index Levels
BSE Sensex 18149.87 NSE Nifty 5446.65
Major Support 18104 – 17920 Major Support 5435 – 5373
Major Resistance 18354 – 18444 – 18583 Major Resistance 5510 – 5535 – 5563
View
The indices continue to trade in a range with the movement narrowing down further. Choppiness was high and the volumes remained low. We continue our view that with such a formation the markets are poised to explode anytime soon. The direction is not known and therefore entering positions after the breakout are advisable. For the Sensex watch resistance @ 18354 and for the Nifty @ 5510 levels. On the lower side supports come in @ 18104 for the Sensex and 5435 for the Nifty. Hold a Low profile…
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Market View for Thursday 17 Mar 2011
Index Levels
BSE Sensex 18358.69 NSE Nifty 5511.15
Major Support 18263 – 17920 Major Support 5475 – 5373
Major Resistance 18444 – 18463 – 18583 Major Resistance 5535 – 5537 – 5563
View
The markets traded in a very narrow range. The recent movement in the market has narrowed down. This is a good sign for the days to come because usually whenever such patterns are noticed the prices give a big spurt in the days to come. In such a situation it is also ideal for players to have a wait and watch approach. Means wait for the indices to decide their direction based on the breakout and then finalize a strategy. For the indices today watch resistance @ 18444 for the Sensex and 5535 for the Nifty. On the lower side supports come in @ 18263 for the Sensex and 5475 for the Nifty. Hold a Low Profile.
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Market View for Wednesday 16 Mar 2011
Index Levels
BSE Sensex 18167.64 NSE Nifty 5449.65
Major Support 17920 – 17469 Major Support 5373 – 5232
Major Resistance 18326 – 18463 – 18583 Major Resistance 5497 – 5537 – 5563
View
The markets opened with gap down opening trading choppy but restricting themselves from falling further. Players were glued to the events in Japan as the explosions in the nuclear reactors continued. On the day end closing basis the indices have formed a spinning top formation which means an overall indecision for the day. For Wednesday the high and lows formed by the indices on Tuesday would play an important role. Resistance should be watched @ 18326 for the Sensex and 5497 for the Nifty. On the lower side supports come in @ 17920 and 5373 for the Sensex and the Nifty respectively. Hold a Low Profile…
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Market View for Tuesday 15 Mar 2011
Index Levels
BSE Sensex 18439.48 NSE Nifty 5531.50
Major Support 18303 – 18167 Major Support 5484 – 5436
Major Resistance 18583 – 18736 Major Resistance 5563 – 5608
View
The markets witnessed a good trend today except for the afternoon hours when the markets consolidated in the intraday move. We have been witnessing the worst disaster of recent times in Japan. Finally it is how we take it – while drawing conclusions on the fate of Japan let’s not forget that this was the same country which was devasted in the World War II. But after the war this was the same country which fought its fight back among the super powers in this world. Along with this everybody know that Japan grew so fast that economically it reached a point of max growth in 1991 and the interest became zero. I respect the country and its people and I see this event as a major event in the future of the country. Yes its sure that for them it would be horrifying memories but looking at the positive side of it may be this event could help the country realign its economy and get it revived again. The cities will be rebuilt again and with better infrastructure and better technology than before. Let’s hope for the best. When the Indian coast was hit by the Tsunami some years back our markets fell but later recovered because market players understood that things will be built again and for this they would require cement and steel – the most basic ingredients of building something. And our markets instead of falling further witnessed a turnaround rally. Coming back to our markets – the indices continue to trade in the range. Today was a good day for the markets. Now from current levels as the indices try to move up further they would face resistance coming in from 18583 – 18736 for the Sensex and 5563 – 5608 for the Nifty. On the lower side supports come in @ 18303 – 18167 for the Sensex and 5484 – 5436 for the Nifty. These levels are important as we trade on Tuesday. Choppiness and dull days will continue till we have some new triggers which could motivate the markets players. Interest is now expected to shift to side counters. Till we have clear signals and nice patterns on charts it is advisable for investors to stay away. Hold a Low Profile…
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Market View for Monday 14 Mar 2011
Index Levels
BSE Sensex 18174.09 NSE Nifty 5445.45
Major Support 18058 – 17811 – 17469 Major Support 5408 – 5308 – 5232
Major Resistance 18583 – 18736 Major Resistance 5563 – 5608
View
The markets continued to trade indecisive. The closing on the weekly candles was with a spinning top formation. The markets are stuck in a range as they lack triggers. The approximate levels of this range for the Nifty are 5200 and 5600. A breakout above or below these levels will help the markets decide a direction for the markets for the months of summer. For the coming week expect the indices to continue to trade in this range. As of levels one needs to watch resistance for the Sensex @ 18583 and for the Nifty @ 5563. On the lower side supports come in @ 18058 for the Sensex and 5408 for the Nifty. Between this range it is advisable to hold a low profile…
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Market View for Friday 11 Mar 2011
Index Levels
BSE Sensex 18327.98 NSE Nifty 5494.40
Major Support 18261 – 18058 Major Support 5468 – 5408
Major Resistance 18430 – 18583 – 18736 Major Resistance 5516 – 5563 – 5608
View
The markets traded dull again as they continue to lack triggers. May be the scams have made people dizzy with the kind of zero’s involved. Harshad Mehta scam of the 90’s now seems to miniscule in front of all of these. The white kurta was looked as an idol and continues even today with a slight change of view. Today they can be looked as role models of corruption. Indians are very patient when it comes to such matters but when it comes to the stock markets the lakhs and crores out there want to be millionaires in a day. Watch the ‘Rambharose Matke Stories’ on the home page of our website to get a glimpse of this. Anyways let’s hope for the best and we wish that this ‘Rambharose’ the common man of the stock markets is saved. We have always dreamt of taking Technical Analysis to every house hold in India and that too in the years of 1999 – 2000 when there was absolute no awareness about this type of a study. We respect all the ARJUN’s who have made this possible. They believed and worked and chalked a road map for themselves. The dream is not full filled but has moved ahead from the days it started. We are sure that one day these stock markets will be a better place for all. Coming back to Technical levels Sensex has a support @ 18261 and Nifty has it @ 5468. On the higher side resistance comes in @ 18430 for the Sensex and 5516 for the Nifty. With the indices trading range bound the overall markets have lost their sheen. Waiting for triggers which could make the markets move is the only option. So till such a time it is better for market players to hold a low profile. ALWAYS REMEMBER IF THERE ARE NO FISH IN THE WATER FISHERMEN DON’T GO FISHING…
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Market View for Thursday 10 Mar 2011
Index Levels
BSE Sensex 18469.95 NSE Nifty 5531.00
Major Support 18303 – 18266 – 18058 Major Support 5477 – 5466 – 5408
Major Resistance 18583 – 18622 – 18736 Major Resistance 5563 – 5586 – 5608
View
The indices continued to trade range bound and choppy. On closing basis the indices have made a spinning top foundation. For the day now keep a close watch on the highs and lows made by the indices for them to decide a direction. On the higher side these levels should be watched @ 18583 for the Sensex and 5563 for the Nifty. And on the lower side these trend deciders exist @ 18303 for the Sensex and 5477 for the Nifty. Further above or below this would bring in more choppiness as markets players would then search for triggers which would help support the move. For the day there are no stocks which look promising for investing and investors should hold a low profile….
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Market View for Wednesday 09 Mar 2011
Index Levels
BSE Sensex 18439.65 NSE Nifty 5520.80
Major Support 18277 – 18058 Major Support 5493 – 5466 – 5408
Major Resistance 18466 – 18622 – 18736 Major Resistance 5530 – 5586 – 5608
View
As expected and mentioned in the earlier newsletters the indices today close in the green after red day earlier. As the players search for missing triggers these markets would be more of trading markets. For the Sensex watch resistance @ 18622 and for the Nifty @ 5586. On the lower side supports exists @ 18277 for the Sensex and 5493 for the Nifty. Trade to be range bound. Hold a scrip specific view…
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Market View for Tuesday 08 Mar 2011
Index Levels
BSE Sensex 18222.67 NSE Nifty 5463.15
Major Support 18058 – 17982 – 17718 Major Support 5408 – 5382 – 5308
Major Resistance 18361 – 18622 – 18736 Major Resistance 5490 – 5586 – 5608
View
The indices opened with a gap down opening and witnessed some selling in initial few hours of trade finally managing to bounce back in the later hours. But this bounce was nothing different from a hot pan bounce. As we have discussed in the newsletter yesterday the indices will continue to trade in a range with one day being in the green and the other in the red. This means overall the choppiness would continue till the market players get to see some good numbers from companies helping them to confirm their view on the markets. So for another one month expect the markets to trade in a range. Trading can be preferred during this period only if you have the capacity to understand Disciplined Trading. Coming back to levels the Sensex has a support @ 18058 and Nifty has it @ 5408. These are supports coming in from the lows made by the indices yesterday. These are the same levels which restricted a further sell off therefore one needs to watch them closely. On the higher side resistance comes in @ 18361 for the Sensex and 5490 for the Nifty. Expect another day of choppy trade with players trying to search for triggers. As for investors it’s time to relax but do not forget to practice because ‘PRACTICE MAKES YOU PERFECT’. It is also important to know that practice does not mean that you indulge yourself into research work on picking stocks using those jargons available on the internet. For one simple reason and that is finally after having picked a stock what helps you make money or lose money is the Fear and Greed factor. Fear of executing a stop loss and Greed of making a lot of money. Have a Nice Day and an Emotion controlled experience on Technical Analysis. For the day investors need to hold a low profile…
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Market View for Monday 07 Mar 2011
Index Levels
BSE Sensex 18486.45 NSE Nifty 5538.75
Major Support 18148 – 17811 – 17718 Major Support 5434 – 5330 – 5308
Major Resistance 18736 – 18745 – 19340 Major Resistance 5608 – 5614 – 5801
View
The budgets helped the indices rally in the last week. This mood is expected to continue further. The only thing is that now the markets players would like the companies to deliver. The yearly numbers which start coming out in one month’s time will be the main trigger for the overall markets. Going forward from here the indices will face tough resistance between 18745 – 19340 levels for the Sensex and 5614 – 5801 for the Nifty. On the lower side supports come in @ 17718 for the Sensex and 5308 for the Nifty. It will not be wrong that the indices have now created a 10% range for themselves and we could see them hovering in this range till companies display real strength in form of their earnings. With this kind of a formation the markets will now see the focus being shifted to mid cap stocks and the stocks which have been beaten down badly in the last 2 months. Scrip specific action is to stay in the markets will the overall indices displaying a bullish day followed by a bearish one. Get ready to live amidst choppiness
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Market View for Friday 04 Mar 2011
Index Levels
BSE Sensex 18489.76 NSE Nifty 5536.20
Major Support 18318 – 18253 – 18214 Major Support 5478 – 5468 – 5382
Major Resistance 18603 – 18690 Major Resistance 5570 – 5599
View
The markets traded choppy as the Budget furry fizzled out. Two good things that the budget had for the stock markets were that the FII’s were allowed to increase their investment limit in the Infrastructure bonds and the NRI’s being allowed to invest in mutual funds. Now it is to be seen how much and when these things really materialize because they are much stronger than the retailer in India. Coming back to PROFISION charts the indices as they move northwards would face resistance coming in @ 18690 levels for the Sensex and 5599 for the Nifty. A breakout above these levels will surely bring in renewed interest in the markets. Below these levels the markets would continue to trade choppy. Individual stocks which have been beaten would show hot pan bounce like patterns. On the lower side supports come in @ 18318 – 18253 for the Sensex and 5478 – 5468 for the Nifty. Hold a Low Profile…
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Market View for Thursday 03 Mar 2011
Index Levels
BSE Sensex 18446.50 NSE Nifty 5522.30
Major Support 18214 – 17982 Major Support 5452 – 5382
Major Resistance 18478 – 18690 Major Resistance 5533 – 5599
View
The markets give a thumbs up to the after view of the Budget. The indices manage to jump big on the back of all round buying in the markets. The strength is expected to continue only the markets manage to open flat. If we witness a gap up opening then that could prove to be a spoil sport. As the indices head northwards they could face resistance coming in from 18690 for the Sensex and 5599 for the Nifty. On the lower side supports come in @ 18214 and 5452 for the Sensex and the Nifty respectively. Individual stocks have witnessed a big sell off in the last one month and that should help them for now to bounce back. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Wednesday 02 Mar 2011
Index Levels
BSE Sensex 18446.50 NSE Nifty 5522.30
Major Support 18214 – 17982 Major Support 5452 – 5382
Major Resistance 18478 – 18690 Major Resistance 5533 – 5599
View
The markets give a thumbs up to the after view of the Budget. The indices manage to jump big on the back of all round buying in the markets. The strength is expected to continue only the markets manage to open flat. If we witness a gap up opening then that could prove to be a spoil sport. As the indices head northwards they could face resistance coming in from 18690 for the Sensex and 5599 for the Nifty. On the lower side supports come in @ 18214 and 5452 for the Sensex and the Nifty respectively. Individual stocks have witnessed a big sell off in the last one month and that should help them for now to bounce back. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Monday 28 Feb 2011
Index Levels
BSE Sensex 17700.91 NSE Nifty 5303.55
Major Support 17469 – 17295 Major Support 5232 – 5177
Major Resistance 17969 – 18457 – 18690 Major Resistance 5380 – 5526 – 5599
View
The indices continued to sell off last week amidst budget caution and February Derivative contracts expiry. Today the direction should be decided as the Finance Minister announces the Budget. Expect the markets to be choppy as they get into anticipating the budget and then adjusting with the outcome. For the Sensex major supports exists @ 17469 – 17295 and for the Nifty @ 5232 – 5177 levels. These are major supports and should ideally not be broken. As of now it is important for us to watch supports closely for all the positions being held. Entering positions after the markets decide their direction is advisable. Hold a Low Profile…
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Market View for Friday 25 Feb 2011
Index Levels
BSE Sensex 17632.41 NSE Nifty 5262.70
Major Support 17559 – 17295 Major Support 5242 – 5177
Major Resistance 17883 – 18135 Major Resistance 5335 – 5408
View
The markets sell off amidst global cues, a rising crude and the uncertainty of the scam hit government policies. The budget is the next big trigger for everybody – the government as well as the market players. The government can save its face by presenting a good budget which would also help them score over the opposition. So Monday lets hope that the markets look at lot different from what they look as on yesterday’s closing. Lets also hope that this does not turn out to be wishful thinking. As of levels the indices the indices have a support @ 17559 – 17295 for the Sensex and 5242 – 5177 for the Nifty. If there is further sell off then these levels should help the markets hold. On the higher side resistance comes in @ 17883 for the Sensex and 5335 for the Nifty. Hold a Low Profile…
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Market View for Thursday 24 Feb 2011
Index Levels
BSE Sensex 18178.33 NSE Nifty 5437.35
Major Support 18082 – 17857 Major Support 5413 – 5340
Major Resistance 18377 – 18457 – 18690 Major Resistance 5495 – 5526 – 5599
View
The indices traded indecisive for another day this time with a weak bias. It seems that the markets are not getting clues from the indices. Thursday is February derivatives expiry and the weakness could continue. The next week will start on the Budget note with the markets getting a direction but till then the indices are expected to stay weak and indecisive. As for levels the Sensex has a resistance @ 18377 and Nifty has it @ 5495 levels. Below these resistances the markets will trade weak. On the lower side support for the Sensex exists @ 18082 and the Nifty has it @ 5413 levels. Hold a Low Profile
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Market View for Wednesday 23 Feb 2011
Index Levels
BSE Sensex 18296.16 NSE Nifty 5469.20
Major Support 18187 – 18082 Major Support 5437 – 5413
Major Resistance 18457 – 18564 – 18690 Major Resistance 5519 – 5526 – 5557
View
The markets traded indecisive for another consecutive day. The budget seems to be bringing in shivers mode for the markets. This type of moves are expected to continue till the actual event is through and after which the cues would be developments, expectations and actually deliveries which will be seen in the budget. For the day watch support for the Sensex @ 18187 and for the Nifty @ 5437. On the higher side resistance exists @ 18457 for the Sensex and 5519 for the Nifty. Hold a low profile…
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Market View for Tuesday 22 Feb 2011
Index Levels
BSE Sensex 18438.31 NSE Nifty 5518.60
Major Support 18238 – 18082 Major Support 5456 – 5413
Major Resistance 18457 – 18564 – 18690 Major Resistance 5526 – 5557 – 5599
View
After witnessing a choppy session the markets managed to gallop in the last trading hours. This was lead by short covering which was witnessed in most of the stocks. This week being a crucial week with derivative expiry and the budget session should bring in a lot more surprises for the players. Tomorrow as the markets get ready to trade if the open is with gap up then could prove to be a spoiler for the day. If the indices open flat then we could expect a range bound session again. Scrip specific action to prevail during the day. For the Sensex resistance exist @ 18457 and for the Nifty @ 5526 levels. On the lower side supports come in @ 18238 for the Sensex and 5456 for the Nifty. Hold a scrip specific view…
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Market View for Monday 21 Feb 2011
Index Levels
BSE Sensex 18211.52 NSE Nifty 5458.95
Major Support 17940 – 17857 Major Support 5340 – 5177
Major Resistance 18690 – 18745 – 19095 Major Resistance 5599 – 5614 – 5717
View
A positive closing for the week closed 18th Feb 2011. With the bullishness seen till Thursday the indices seemed to gallop further ahead but failed. This was due to the stiff resistance coming from the consolidation which the markets had witnessed during the first week of February. Friday was an overall correction with most of the stock’s closing in the red. The coming week has two important events happening – first is the February Derivative contracts expiry and the second and the most important one is the Union Budget. The triggers coming in from the Budget is something which markets players are closely watching and waiting for. Another week of uncertainty could be in the offing for the market players. As of levels the Sensex has a major resistance @ 18690 and the Nifty has it @ 5599. On the lower side support exists @ 17940 – 17857 for the Sensex and 5340 for the Nifty. These are levels which the market players need to watch closely. Hold a scrip specific view…
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Market View for Friday 18 Feb 2011
Index Levels
BSE Sensex 18506.82 NSE Nifty 5546.45
Major Support 18345 – 18233 Major Support 5501 – 5463
Major Resistance 18542 – 18708 – 18885 Major Resistance 5556 – 5614 – 5664
View
The indices managed to breach the resistances and thus decide their direction for the short term. There is one short term resistance which the indices need to cross for them to gallop further. This resistance comes in @ 18542 for the Sensex and 5556 for the Nifty. Above these levels the indices will see the bullish trend continuing. On the lower side supports come in @ 18345 for the Sensex and 5501 for the Nifty. Hold a scrip specific view…
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Market View for Thursday 17 Feb 2011
Index Levels
BSE Sensex 18300.90 NSE Nifty 5481.70
Major Support 18216 – 18050 – 17857 Major Support 5408 – 5400 – 5346
Major Resistance 18358 – 18450 – 18542 Major Resistance 5506 – 5519 – 5556
View
The markets traded flat and in a very narrow range. A dull day which lacked clarity for index as well as heavyweights. Till 26th February when the Budget would be announced the mood in the markets is expected to remain indecisive. Till then investors and traders should not get in compulsive mode for getting into the markets. For the Sensex watch support @ 18216 and for the Nifty @ 5408 levels. On the higher side the indices will face resistance coming in @ 18358 for the Sensex and 5506 for the Nifty. Wait for a breach of any of these levels. This will help the indices decide an immediate short term direction. Individual stocks are not yet showing good patterns and therefore it is better to hold a low profile
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Market View for Wednesday 16 Feb 2011
Index Levels
BSE Sensex 18273.80 NSE Nifty 5481.00
Major Support 18050 – 17857 Major Support 5408 – 5400 – 5346
Major Resistance 18361 – 18450 – 18542 Major Resistance 5506 – 5519 – 5556
View
A choppy trade was witnessed as the indices reached crucial resistance. The closing for the indices was indecisive with spinning top formations on the candlestick charts. The next big trigger for the markets is the budget. Till the event actually happens anticipating the gifts which may be in store in the budget is expected to make the markets move up and down. As mentioned earlier too this current move could be a hot pan bounce till a time that genuine buying is witnessed in the markets. For the indices the highs and lows formed on Tuesday would play a crucial role. Sensex has a support @ 18050 and Nifty has it @ 5408. On the higher side resistance comes in @ 18361 for the Sensex and 5506 for the Nifty. Hold a low profile as index heavyweights trade dizzy
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Market View for Tuesday 15 Feb 2011
Index Levels
BSE Sensex 18202.20 NSE Nifty 5456.00
Major Support 18071 – 17857 Major Support 5400 – 5346
Major Resistance 18227 – 18450 – 18542 Major Resistance 5463 – 5519 – 5556
View
The short covering which pulled the markets from their lows on Friday continued to help them rally again on Monday. This was amidst a lot of index heavyweights witnessing some amount of buying in them. Lets expect that this bounce does not turn out to be a hot pan bounce. Tuesday will be crucial as the indices face resistance coming in from the consolidation in the first week of February. A gap up opening could play a spoil sport unless there is some genuine buying which can continue to make the markets gallop. For the Sensex watch major resistance coming in @ 18450 – 18542 levels and for the Nifty @ 5519 – 5556 levels. Till these levels the indices could remain strong and make lose their shine as they approach these resistances. As for stocks as most of them are in a hot pan bounce the move is yet to be confirmed. Wait for some good formations on individual stocks. Till then hold a low profile…
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Market View for Monday 14 Feb 2011
Index Levels
BSE Sensex 17728.61 NSE Nifty 5310.00
Major Support 17295 – 17090 Major Support 5177 – 5125
Major Resistance 18135 – 18542 Major Resistance 5430 – 5556
View
Friday saw a big jump on the indices as the finance minister announced that IIP numbers do not display the true picture of the countries growth. On charts the indices have now reached the lower end of the band of the channel. They should now ideally manage to get support from these levels. The choppiness will be high and interest will be stock specific. For the Sensex supports should be watched @ 18295 – 17090 levels and for the Nifty they exists @ 5177 – 5125 levels. On the higher side resistance exists @ 18135 for the Sensex and 5430 for the Nifty. The indices have by now corrected by 15 to 20% from the highs made in Nov and Dec 2010. Expecting a good budget cannot be denied looking at the situation though which the current government is going through. A good budget would bring in energy back in the markets. This is a time when market players should have patience and wait for the right moves or formations on individual stocks. Hold a scrip specific view…
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Market View for Friday 11 Feb 2011
Index Levels
BSE Sensex 17463.04 NSE Nifty 5225.80
Major Support 17362 Major Support 5196
Major Resistance 17603 – 17864 Major Resistance 5272 – 5339
View
The indices continued to fall with one significant observation and that is the momentum has now been reducing. This also suggests that a breather is in the offing either Friday or the coming week. Individual stocks are still not showing good signals and this is a time when waiting with patience makes more money than searching for stocks and getting into some wrong ones. For the Sensex supports exists @ 17362 and for the Nifty @ 5196 levels. These are important supports and should ideally not be broken easily. And if these hold on then expect the indices to jump from the current levels. The jump would not be anything more than a hot pan bounce but the fall could be arrested in the immediate short term. On the higher side resistance comes in @ 17603 for the Sensex and 5272 for the Nifty. Hold a Low Profile…
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Market View for Thursday 10 Feb 2011
Index Levels
BSE Sensex 17592.77 NSE Nifty 5253.55
Major Support 17508 – 17373 Major Support 5225 – 5210
Major Resistance 17864 – 18141 Major Resistance 5339 – 5432
View
The indices continued to sell off again this time amidst market players feeling the heat on the ADAG pack. The indices are now trading on crucial supports. Immediate crucial supports exist @ 17508 – 17373 for the Sensex and 5225 – 5210 for the Nifty. These should help the indices take a breather for the time being. Choppiness would continue as players search for triggers. On the higher side resistance comes in @ 17864 for the Sensex and 5339 for the Nifty. This is a time to stay watchful. Wait for stocks to make good patterns. Without a concrete opportunity jumping into the markets is like jumping out of an aircraft without a parachute. Have patience and hold a low profile
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Market View for Wednesday 09 Feb 2011
Index Levels
BSE Sensex 17775.70 NSE Nifty 5312.55
Major Support 17742 – 17653 – 17395 Major Support 5303 – 5294 – 5225
Major Resistance 17958 – 18141 Major Resistance 5372 – 5432
View
After a breather in the last week the journey continues southwards for the overall markets. Lacking triggers and engulfed by scams market players are taking caution rise to the budget. For the day Sensex has a crucial support coming up @ 17653 – 17395 and for the Nifty @ 5294 – 5225 levels. On the higher side resistance comes in @ 17958 for the Sensex and 5372 for the Nifty. This is a time to remain cautious along with the market. Wait for stocks to show nice patterns to act on. Hold a scrip specific view…
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Market View for Tuesday 08 Feb 2011
Index Levels
BSE Sensex 18037.19 NSE Nifty 5396.00
Major Support 17926 – 17819 Major Support 5369 – 5348
Major Resistance 18180 – 18229 – 18542 Major Resistance 5440 – 5457 – 5556
View
The indices traded flat as market players could not find triggers. The current happening things are all scams one after the other breaking their own records. For today watch support @ 17926 for the Sensex and 5369 for the Nifty. These levels if broken would see the indices falling down further to test crucial supports @ 17819 for the Sensex and 5348 for the Nifty. The Budget which is the most awaited trigger for the markets is expected to rosy. This though is motivated with the turmoil the current government is going through first the price rise of house hold commodities then the fuel hike and to make the things worse mammoth sized scams one after the other. On the higher side the resistance should be watched @ 18229 for the Sensex and 5457 for the Nifty. Hold a scrip specific view
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Market View for Monday 07 Feb 2011
Index Levels
BSE Sensex 18008.15 NSE Nifty 5395.75
Major Support 17926 – 17819 – 17395 Major Support 5369 – 5348 – 5210
Major Resistance 18226 – 18542 Major Resistance 5452 – 5556
View
The last week was a roller coaster ride for the market players as the indices traded one day up and the other day down. Finally the week closed with a loss. The business bulletins were full of the wealth eroded by players in the Indian markets. No need to worry as the major losers were the institutions. The retailers continue to live in their dreams of making their wishes come true with the markets moving according to their wish. Years on Years you will witness the same phenomena again and again in the Indian markets. A person starts his journey in the markets makes some money gets confident and that its – rest is history. Commenting on something and somebody is free – blogs, discussions all nonsense. Once and for all this player needs to know that you cannot make the markets move as per your wish. There are 3 phases in the market and they come once every year. First is the bullish phase, second a bearish phase and third a phase where it is intelligence to stay away from the markets. We are currently going through such a phase. Learning from others mistakes is cheaper and easier. If you try to learn it yourself then remember you will not only have to pay but also take a lot of headache for yourself. Decision is yours because who can be a better care taker of your hard earned money. As for levels in the coming week watch resistance for the Sensex @ 18226 – 18542 and for the Nifty @ 5452 – 5556 levels. On the lower side supports come in @ 17819 for the Sensex and 5556 for the Nifty. These are crucial supports and immediate ones too. The movement for the overall markets would be based on the rumors and cues coming in from the pre budget discussions. Living in a democracy has its own advantages and disadvantages. Choppiness is here to stay for time being. Hold a scrip specific view…
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Market View for Friday 04 Feb 2011
Index Levels
BSE Sensex 18449.31 NSE Nifty 5526.75
Major Support 18281 – 18113 Major Support 5478 – 5430
Major Resistance 18552 – 18708 Major Resistance 5537 – 5563 – 5614
View
The indices gave a big thumbs up after witnessing selling for the last few days. The markets are expected to get choppy as players start getting hints about the budget. The trend is expected to continue again. The only spoil sport in this could be a gap up opening which could cause the markets to pause again. For the days watch resistance for the Sensex @ 18552 and 5563 for the Nifty. On the lower side supports come in @ 18281 for the Sensex and 5478 for the Nifty. Hold a Low Profile as stocks are not showing clear patterns as of now.
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Market View for Thursday 03 Feb 2011
Index Levels
BSE Sensex 18090.62 NSE Nifty 5432.00
Major Support 17982 – 17819 – 17667 Major Support 5402 – 5348 – 5225
Major Resistance 18306 – 18425 Major Resistance 5490 – 5537
View
The indices traded indecisive closing with a narrow trade for the day. The close was within the day before yesterday’s candle suggesting a Harami pattern for the candlestick formation. For today expect the indices to stay in a narrow till breakout. Immediate support exists @ 17982 for the Sensex and 5402 for the Nifty. On the higher side resistance comes in @ 18306 for the Sensex and 5490 for the Nifty. Hold a low profile till further clear moves are dictated by the stocks or the indices.
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Market View for Wednesday 02 Feb 2011
Index Levels
BSE Sensex 18022.22 NSE Nifty 5417.20
Major Support 17819 – 17667 – 17373 Major Support 5348 – 5225
Major Resistance 18223 – 18425 Major Resistance 5477 – 5537
View
The indices continued to sell off again. Choppiness was high amidst fearful approach from market players. The current close for the indices is just above crucial supports. Though the weakness is expected to continue the indices may try getting a breather at these levels. These levels come in @ 17667 – 17373 for the Sensex and 5348 – 5225 for the Nifty. A breather or a dead cat bounce cannot be ruled out from these levels. On the higher side the indices will face resistance @ 18223 for the Sensex and 5477 for the Nifty. Investors should hold a low profile and traders should now enjoy an all together new trading experience with PROFISION Pro…
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Market View for Monday 31 Jan 2011
Index Levels
BSE Sensex 18395.97 NSE Nifty 5512.15
Major Support 18235 – 17819 – 17373 Major Support 5459 – 5348 – 5210
Major Resistance 18745 – 19095 – 19340 Major Resistance 5614 – 5717 – 5801
View
The indices finally cracked the short term range on the lower side. The markets now would test supports – two of them as they move southwards. These are important levels and need to be watched closely. As the indices trade inside the channel the triggers which one would look and wait for is the Budget. This is something which could help the markets if at all there are any positive surprises in store. Looking at the way India is going with plenty of corruption cases, scams and the rising inflation, this is one event which the current government has to save itself. As of levels the immediate supports for the Sensex exists @ 17819 – 17373 and for the Nifty exists @ 5348 – 5210 levels. On the higher side resistance exists @ 19095 for the Sensex and 5717 for the Nifty. Weakness if here to stay with choppiness throughout. Hold a Low Profile
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Market View for Friday 28 Jan 2011
Index Levels
BSE Sensex 18684.43 NSE Nifty 5604.30
Major Support 18540 – 18342 – 18124 Major Support 5567 – 5528 – 5479
Major Resistance 18885 – 19086 Major Resistance 5664 – 5725
View
The markets sold off with the indices breaking their supports on the lower side. This was after a consolidation for 7 working days. With this breakout the indices have decided their direction to be southwards. Falling from current levels the indices would test supports for the Sensex @ 18540 – 18342 and for the Nifty @ 5567 – 5528 levels. On the higher side the moves would arrested @ 18885 for the Sensex and 5664 for the Nifty. With the current formation the markets look weak. Scrip specific view should be given preference
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Market View for Thursday 27 Jan 2011
Index Levels
BSE Sensex 18969.45 NSE Nifty 5687.40
Major Support 18932 – 18794 Major Support 5674 – 5634 – 5624
Major Resistance 19098 – 19227 – 19340 Major Resistance 5725 – 5763 – 5801
View
The indices sold off as they tried to breakout above the higher end of the band. This move made the indices come back inside the channel and continuing the short term range. The short term range has a support @ 18794 for the Sensex and 5624 for the Nifty. On the higher side the resistance comes in @ 19227 for the Sensex and 5763 for the Nifty. Between these levels investors should hold a low profile. A breach above or below these levels will help the indices decide a direction.
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Market View for Tuesday 25 Jan 2011
Index Levels
BSE Sensex 19151.28 NSE Nifty 5743.25
Major Support 19095 – 18998 – 18794 Major Support 5717 – 5697 – 5634
Major Resistance 19194 – 19447 Major Resistance 5756 – 5833
View
The indices continued to trade in the current short term range. The choppiness and dull trade with respect to index stocks continued as players remained indecisive on the direction of the index. Scrip specific activity will continue as the third quarterly numbers keep coming out. For the Sensex watch resistance @ 19194 and for the Nifty @ 5756 levels. On the lower side support exists @ 19095 and 5717 immediately for the Sensex and the Nifty. The lower end of this range and and important support comes in @ 18794 for the Sensex and 5634 for the Nifty. Till the time the indices continue to remain in this range they would continue to trade dull and confused. Avoid trading the index till the time it trades between 5756 and 5634. Hold a Scrip Specific View
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Market View for Monday 24 Jan 2011
Index Levels
BSE Sensex 19007.53 NSE Nifty 5696.50
Major Support 18779 – 18461 – 18124 – 17819 Major Support 5624 – 5559 – 5479 – 5348
Major Resistance 19167 – 19287 – 19714 Major Resistance 5747 – 5777 – 5901
View
One week back the indices gave a crack below the up trending channel. Last week the indices witnessed indecisive mood as they traded inside this channel. If we look at the trend of the indices then on the weekly charts the indices have made lower tops but have managed to hold themselves from making a lower bottom. On Fridays closing this could be only good sign for the markets. The third quarter numbers with all their Good, Bad and Ugly faces would continue to bring in choppiness in the markets. To start the week investors should know that doing nothing between this current range is intelligence. And entry executed after the markets decide their direction would be advisable. As of levels watch supports coming in @ 18779 for the Sensex and 5624 for the Nifty. On the higher side resistance comes in @ 19167 for the Sensex and 5747 for the Nifty. A breakout above or below these levels could help decide the further course of the markets. Hold a Scrip Specific View…
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Market View for Friday 21 Jan 2011
Index Levels
BSE Sensex 19046.54 NSE Nifty 5711.60
Major Support 18892 – 18794 Major Support 5656 – 5634
Major Resistance 19100 – 19153 – 19198 Major Resistance 5729 – 5737 – 5752
View
The indices stayed afloat and remained range bound in the trade yesterday. The closing for the last 4 days has been sideways. Between these levels the indices will mostly be indecisive with players not able to judge the direction of the markets. For today watch supports @ 18897 – 18794 for the Sensex and 5656 – 5634 for the Nifty. On the higher side resistance comes in 19100 – 19153 for the Sensex and 5729 – 5737 for the Nifty. Investors should hold a scrip specific view…
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Market View for Thursday 20 Jan 2011
Index Levels
BSE Sensex 18978.32 NSE Nifty 5691.05
Major Support 18898 – 18779 Major Support 5662 – 5624
Major Resistance 19153 – 19198 – 19447 Major Resistance 5737 – 5752 – 5833
View
The indices sold off in the later hours of the day yesterday. This selling came from the resistance coming in from the Upper band of the channel. For the last 4 days the indices have been trading just inside the channel band. For today’s trade watch resistance @ 19153 – 19198 for the Sensex and 5737 – 5752 for the Nifty. On the lower side supports come in from the lows made in these last 4 days of trade. For the Sensex support exists @ 18898 – 18779 and for the Nifty @ 5662 – 5624. Investors should Hold a Low Profile
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Market View for Wednesday 19 Jan 2011
Index Levels
BSE Sensex 19092.05 NSE Nifty 5724.05
Major Support 18983 – 18933 – 18779 Major Support 5682 – 5671 – 5624
Major Resistance 19120 – 19198 – 19447 Major Resistance 5730 – 5752 – 5833
View
The indices managed to trade with a positive bias to close in the green. The closing was just below the resistance from the upper band of the upward trending channel. This level needs to be watched as a crucial resistance for the trading on Wednesday. For the Sensex resistance exists @ 19120 and for the Nifty it exists @ 5730 levels. On the lower side supports come in @ 18983 and 5682 for the Sensex and the Nifty. These support & resistance levels will play an important role in judging the further direction of the markets in the immediate short term. Till then it is advisable to hold a low profile
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Market View for Tuesday 18 Jan 2011
Index Levels
BSE Sensex 18882.25 NSE Nifty 5654.75
Major Support 18779 – 18540 Major Support 5624 – 5567
Major Resistance 19018 – 19198 Major Resistance 5696 – 5752
View
The indices traded indecisive after the sell off witnessed on Friday last week. The closing for the indices on candlestick patterns was a DOJI suggesting that on Tuesday the highs and lows of this candlestick pattern will play an important role. Resistance comes in @ 19018 for the Sensex and 5696 for the Nifty. On the lower side supports come in @ 18779 for the Sensex and 5624 for the Nifty. The trend for the indices would be based on a move above or below these levels. Investors should hold a low profile. Monitor stocks in your portfolio based on their stop loss levels.
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Market View for Monday 17 Jan 2011
Index Levels
BSE Sensex 18860.44 NSE Nifty 5654.55
Major Support 18811 – 18461 – 18124 – 17819 Major Support 5639 – 5559 – 5479 – 5348
Major Resistance 19287 – 19714 Major Resistance 5777 – 5901
View
Last week saw Infosys disappointing the markets which started off a round a selling. The choppiness was high and every upward move saw new selling coming in. On closing basis the indices have dipped back inside the up trending channel which played a prominent role between the periods of October 2009 to September 2010. The current close also marks a lower top formation on the short and medium term charts. This formation would need an additional confirmation from the coming week. Means if this week the indices remain below major resistance @ 19287 for the Sensex and 5777 for the Nifty then this formation would be confirmed and the indices could see themselves correcting by approximately 10% from current levels. Weakness is expected to continue as more 3rd quarter earnings are announced. Individual stocks are showing weakness and that could keep the markets under pressure. The overall view would change only if we have some positive surprises on the earnings and if the indices manage to trade above the resistances mentioned. Hold a scrip specific view…
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Market View for Friday 14 Jan 2011
Index Levels
BSE Sensex 19182.82 NSE Nifty 5751.90
Major Support 19136 – 19003 Major Support 5736 – 5698
Major Resistance 19337 – 19492 – 19574 Major Resistance 5801 – 5850 – 5874
View
The bounce back which the markets witnessed on Wednesday was eaten up by the weight of the Infosys numbers which disappointed the markets. This send the markets selling as players choose to play safe. The third quarter earnings are crucial as they display the actual performance of the companies and the players would like to see them verified with the price discounted in the markets. The numbers to watch out for on Friday are Zee Entertainment, Godrej Properties and HDFC. For the Sensex from current levels important support comes in @ 19136 – 19003 and for the Nifty this level exists @ 5736 – 5698. On the higher side resistance exists @ 19492 for the Sensex and 5850 for the Nifty. Above these levels if the indices manage to survive then they could pull the shorts but till such time expect the indices to trade flat. Surprises from the numbers could see some action in the markets. Hold a Low Profile…
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Market View for Thursday 13 Jan 2011
Index Levels
BSE Sensex 19534.10 NSE Nifty 5863.25
Major Support 19353 – 19048 Major Support 5800 – 5711
Major Resistance 19574 – 19714 – 19927 Major Resistance 5901 – 5967 – 6030
View
The indices managed to take support on crucial levels mentioned. The markets displayed a sharp bounce back from these levels. Infosys to announce numbers and that will be the main attraction for the day. As for the indices going forward it may not be an east ride as the third quarterly numbers may have all emotions good, bad and ugly built in them. As for levels Sensex will face tough resistance from 19574 level and Nifty will face it from 5901. These are immediate resistances for the indices. On the lower side supports come in @ 19353 and 5800 for the Sensex and the Nifty respectively. Hold a Low Profile
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Market View for Wednesday 12 Jan 2011
Index Levels
BSE Sensex 19196.34 NSE Nifty 5754.10
Major Support 19003 – 18954 Major Support 5698 – 5690
Major Resistance 19431 – 19714 Major Resistance 5842 – 5832 – 5901
View
The indices traded indecisive as they traded on crucial supports. The formation on candlestick patterns was a Doji on closing basis. For tomorrow players need to watch highs and lows made today as trend deciders. Watch resistance for the Sensex @ 19431 and for the Nifty @ 5842. On the lower side support comes in for the day @ 19003 for the Sensex and 5698 for the Nifty. The choppiness would be high as the numbers flow in. Infosys results could steer the markets. Hold a Low Profile
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Market View for Tuesday 11 Jan 2011
Index Levels
BSE Sensex 19224.12 NSE Nifty 5762.85
Major Support 19158 – 19074 – 18954 Major Support 5740 – 5721 – 5690
Major Resistance 19469 – 19714 Major Resistance 5832 – 5901
View
The selling continued yesterday to greet the third quarter earnings season. At current levels the indices trade at crucial supports. It is important for the indices to survive at these levels as these supports come from two important levels – one is the support from the upper band of the channel and second from the recent two dips in the last two months. For today watch support for the Sensex @ 19158 – 18954 and for the Nifty @ 5721 – 5690 levels. Watch these levels closely.
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Market View for Monday 10 Jan 2011
Index Levels
BSE Sensex 19691.81 NSE Nifty 5904.60
Major Support 19629 – 19321 – 18954 Major Support 5883 – 5795 – 5721 – 5690
Major Resistance 20156 – 20621 – 21108 Major Resistance 6041 – 6177 – 6338
View
The indices sold off last week as they got ready to face the 3rd quarter earnings season. The earning numbers are going to be important for the market players to sustain their confidence over the current rallies and the prices at which the stocks currently trade. Choppy trade will continue as companies announce their numbers. For the markets this week one needs to watch resistance @ 20156 and 6041. As the indices correct they would test their ground again at the levels from where they had bounced back last time. These supports are crucial and should not be broken for the short to medium term view to remain intact. These supports come in @ 18954 for the sensex and 5721 – 5690 for the Nifty. Survival of these levels would also help bring in renewed confidence in the markets. Till then hold a scrip specific view. Wait for the stocks to prove themselves with good price patterns. This is a month of patience.
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Market View for Friday 07 Jan 2011
Index Levels
BSE Sensex 20184.74 NSE Nifty 6048.25
Major Support 20107 – 20060 – 19981 Major Support 6022 – 6005 – 5982
Major Resistance 20290 – 20395 – 20405 Major Resistance 6048 – 6107 – 6141
View
The markets continued to see. This is mainly due to the uncertainty in the markets over the third quarter earnings season which starts. For today watch support for the Sensex @ 20107 and for the Nifty @ 6022 levels. On the higher side resistance is expected to come in @ 20290 and 6107 for the Sensex and Nifty respectively. Expect a choppy session for the indices. One needs to stick to scrip specific view
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Market View for Thursday 06 Jan 2011
Index Levels
BSE Sensex 20301.10 NSE Nifty 6079.80
Major Support 20243 – 20060 – 19981 Major Support 6062 – 6005 – 5982
Major Resistance 20405 – 20509 Major Resistance 6110 – 6141
View
The markets sell as they lack trigger getting into the third quarter earnings. This mood should continue till some good figures come out of the earnings season. Bank stocks especially traded weak and seem to be a sign of cause. For today watch resistance for Sensex @ 20405 and for the Nifty @ 6110 levels. On the lower side supports come in @ 20243 and 6062 for the Sensex and the Nifty respectively. Individual stocks are still not showing good patterns and therefore suggest that investors should hold a low profile.
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Market View for Wednesday 05 Jan 2011
Index Levels
BSE Sensex 20498.72 NSE Nifty 6146.35
Major Support 20449 – 20412 – 20274 Major Support 6124 – 6103 – 6062
Major Resistance 20617 – 20651 – 20665 Major Resistance 6181 – 6202 – 6240
View
The markets traded choppy as expected. Today also the same trend is expected to continue. This is due to the lack of triggers. From next week there could volatility in the markets due to the third quarter earnings. Till such a time it is better to hold a low profile. As of now the stocks are mostly showing indecision. For the Sensex today watch resistance @ 20617 and for the Nifty @ 6181 levels. on the lower side supports come in @ 20449 and 6124 for the Sensex and the Nifty respectively. Wait for stocks to show some good patterns.
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Market View for Tuesday 04 Jan 2011
Index Levels
BSE Sensex 20561.05 NSE Nifty 6157.60
Major Support 20531 – 20412 Major Support 6147 – 6105
Major Resistance 20664 – 21041 – 21108 Major Resistance 6177 – 6202 – 6240
View
The markets traded the new year on a dull note with the indices trading a very narrow range. The indices are now expected to trade sideways and consolidate till they gather energy for further momentum. Till such a time the momentum could be seen in side counters as they find takers in these dull markets. As of levels the Sensex has a support @ 20531 and the Nifty has it @ 6147 levels. On the higher side the resistance exists @ 20664 for the Sensex and 6177 for the Nifty. Hold a Low Profile
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Market View for Monday 03 Jan 2011
Index Levels
BSE Sensex 20509.09 NSE Nifty 6134.50
Major Support 20285 – 20062 – 19981 Major Support 6073 – 6013
Major Resistance 20599 – 21041 – 21108 Major Resistance 6203 – 6338
View
HAPPY NEW YEAR TO YOU… The decade and the year closed on a positive note with the indices closing the day and the week in the green. The close also has been near all time highs. This is something which the Indian stock markets have managed to do for the second time in a row for the last two decades. It was an amazing decade on all fronts, to start with a Ketan Parekh scam and ending with a 2G scam. The only difference in both was the magnitude. For the stock markets growth story started off in 2003 and has then on being good with a little bit of hiccups on the way. A lot has changed in this period – the awareness, the participation, the transparency, and the money flowing in. Everything has just been good for the markets. People who were in the market with the right knowledge have been able to gain on everything. Lets hope that these good things continue for the coming decade as well. Coming back to levels for this week watch supports for the Sensex @ 20285 and for the Nifty @ 6073 levels. On the higher side resistance comes in @ 20599 and 6203 for the Sensex and the Nifty respectively. As the indices move up from the current levels the indices would face resistance from the all time high levels. The market players could get skeptical at those levels. These levels could see scrip specific action more than the indices. Hold a Scrip Specific View…
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Market View for Friday 31 Dec 2010
Index Levels
BSE Sensex 20389.07 NSE Nifty 6101.85
Major Support 20274 – 20060 Major Support 6062 – 6005
Major Resistance 20410 – 20593 Major Resistance 6144 – 6202
View
The indices continued to inch upwards yesterday with the move being choppy in the intraday trade. It was also the December contracts expiry which happened on a cool note. New contract and the last day of the year and the decade should bring some liveliness to the markets now. A happening decade which saw the Indian stock markets come of age. We will discuss this in detail in our Monday’s newsletter. For today watch supports for the Sensex @ 20274 and for the Nifty @ 6062 levels. above these levels the indices would continue to remain with bullish bias. On the higher side the next targets would be 20593 and 6202 for the Sensex and the Nifty. For today there are no stock picks. Hold a Low Profile… Wish you a very happy new year. Remember just the way stocks are meant for us and we are not for the stocks in the same way the party is for us and we are not for the party. Enjoy the party but please do not drink and drive.
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Market View for Wednesday 29 Dec 2010
Index Levels
BSE Sensex 20025.42 NSE Nifty 5996.00
Major Support 19981 – 19880 Major Support 5982 – 5969 – 5900
Major Resistance 20090 – 20151 – 20217 Major Resistance 6010 – 6069 – 6144
View
The indices traded in a narrow range throughout the day. December expiry seems to happening on a very cool note with dull trade as the players enjoy their holidays. For today watch supports come in @ 19981 for the Sensex and 5982 for the Nifty. On the higher side resistance will come in @ 20090 for the Sensex and 6010 for the Nifty. Hold a scrip specific view…
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Market View for Monday 27 Dec 2010
Index Levels
BSE Sensex 20073.66 NSE Nifty 6011.60
Major Support 19921 – 19600 – 19321 Major Support 5969 – 5900 – 5795
Major Resistance 20151 – 20217 – 20380 Major Resistance 6069 – 6144
View
The markets traded dull throughout the week as it missed the strong hand who were busy enjoying their Christmas holidays. Let’s see if there is any change in the sentiments in the coming week which also is the last week of the year and also the decade. The next triggers for the markets would be the 3rd quarter earnings season which starts in the second week of January 2011 and later would be the Union Budget 2011. For the coming week watch support coming in @ 19921 – 19600 for the Sensex and 5969 – 5900 for the Nifty. On the higher side resistance should be watched @ 20151 – 20217 for the Sensex and 6069 – 6144 for the Nifty. Hold a scrip specific view…
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Market View for Friday 24 Dec 2010
Index Levels
BSE Sensex 19982.88 NSE Nifty 5980.00
Major Support 19939 – 19770 Major Support 5964 – 5900
Major Resistance 20076 – 20151 – 20217 Major Resistance 6006 – 6024 – 6069
View
The indices traded in a very narrow range throughout the day. The trade was dull as expected due to lack of market participation. In the Nifty there were only two stocks which changed by approx 5% the rest of bunch was trading at either a difference of 1% or lower. Friday is expected to another dull day. Markets are suggesting players to enjoy the Christmas and the New Year holidays. As for levels the Sensex has a resistance @ 20076 – 20151 and the Nifty has it @ 6006 – 6024 levels. This consolidation would see support coming in for the Sensex @ 19939 and for the Nifty @ 5964 levels. Hold a Low Profile
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Market View for Thursday 23 Dec 2010
Index Levels
BSE Sensex 20015.80 NSE Nifty 5984.40
Major Support 19931 – 19770 Major Support 5958 – 5900
Major Resistance 20151 – 20217 Major Resistance 6024 – 6069
View
The indices opened strong and traded range bound for the first half of the day finally failing to sustain. The session was dull with most market participants enjoying Christmas vacations. Tomorrow could again be another day of dull activity. Sensex has a resistance @ 20151 and Nifty has it @ 6024 levels. On the lower side supports come in @ 19931 for the Sensex and 5958 for the Nifty. Hold a Low Profile
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Market View for Wednesday 22 Dec 2010
Index Levels
BSE Sensex 20060.32 NSE Nifty 6000.65
Major Support 19925 – 19711 Major Support 5960 – 5900
Major Resistance 20090 – 20217 Major Resistance 6007 – 6069
View
The indices traded the day with a bullish bias as they continue to head towards resistance levels. The next resistance will come in @ 20090 for the Sensex and 6007 for the Nifty. On the lower side supports come in @ 19925 and 5960 for the Sensex and the Nifty respectively. The markets have long awaited the launch of PROFISION Pro. The advance booking starts form today. The access and installations to being on 3rd January 2010. If you want to look at Day Trading from a near before seen vision then go ahead for PROFISION Pro. A software which carries our experience and emotions of a million traders. A Safe guide…. As of now hold a scrip specific view as and when stocks are picked by Precision Assist. If there are no stocks then it is better to stay away from the markets cause as it is important to get in long positions and short positions at times it is also good to stay away from them. Enjoy the new experience profitably with PRO
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Market View for Monday 20 Dec 2010
Index Levels
BSE Sensex 19864.85 NSE Nifty 5948.75
Major Support 19600 – 19321 Major Support 5882 – 5795
Major Resistance 20038 – 20217 Major Resistance 6033 – 6069
View
The moment of the last week was that the indices were able to pull themselves up from the support levels. The December derivative contracts had started off on a bearish note. If the indices manage to stay at these levels or move up further from here then the shorts are going to run to cover their positions which may help the indices rally further. Supports for the Sensex come in @ 19600 – 19321 levels and for the Nifty they are @ 5882 – 5795 levels. Above these the indices would be able to stay afloat and rally further to test resistance @ 20217 for the Sensex and 6069 for the Nifty. Choppiness would continue in the intraday trade. Major stocks are still not showing positive patterns. For the time being it is advisable to hold a low profile
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Market View for Wednesday 15 Dec 2010
Index Levels
BSE Sensex 19799.19 NSE Nifty 5944.10
Major Support 19746 – 19621 Major Support 5928 – 5888
Major Resistance 19836 – 19874 – 20008 Major Resistance 5953 – 5960 – 6001
View
The indices traded choppy but managed to close in the green. The intraday move suggests that market players are skeptical about the move. The heavyweights are yet not sharing their role to ensure that the move happens. They still are showing any good patterns as such. The action mostly remains in side counters. For the day watch resistance @ 19836 for the Sensex and 5953 for the Nifty. These are immediate resistance when crossed the indices would head for the recent highs. On the lower side supports come in @ 19746 and 5928 levels. Hold a Low Profile
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Market View for Tuesday 14 Dec 2010
Index Levels
BSE Sensex 19691.78 NSE Nifty 5907.65
Major Support 19600 – 19321 Major Support 5882 – 5795
Major Resistance 19771 – 19874 – 20008 Major Resistance 5927 – 5960 – 6001
View
The indices have taken support on the upper end of the channel and survived. This all happens amidst a lot of negative news and therefore the importance of this support has been highlighted. Going forward market players need to watch this level closely as till these levels survive the fear part in the choppiness should not be there. Only if these levels are cracked then one needs to worry about positions held. Going forward with a good support found the indices should be able to bounce back atleast by 2 to 5% from current levels. For today watch supports coming in @ 19600 for the Sensex and 5882 for the Nifty. On the higher side the indices could move up to 19874 for the Sensex and 5960 for the Nifty. A gap up opening could be a spoiler and in which case the markets would trade indecisive. Individual stocks are still not showing good formations and therefore it is advised to hold a Low Profile
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Market View for Friday 10 Dec 2010
Index Levels
BSE Sensex 19242.36 NSE Nifty 5766.50
Major Support 19160 – 18954 – 18845 Major Support 5742 – 5690 – 5639
Major Resistance 19494 – 19746 Major Resistance 5845 – 5924
View
The markets corrected big way yesterday. The current formation suggests that the indices have made a lower top and now it is to be seen if they also make a lower bottom. This would be confirmed if the indices close below 18954 for the Sensex and 5690 for the Nifty. If this happens then the indices would get back into the uptrending channel which they had broken out from some months back. For today watch immediate supports for the Sensex @ 19160 and for the Nifty @ 5742 levels. On the higher side resistance comes in @ 19494 for the Sensex and 5845 for the Nifty. Weakness to remain in the markets. Hold a scrip specific view. Most of the stocks seem weak with bearish patterns. These are opportunities which can be taken by market players who trade futures and options segment. And also by investors who hold stocks in delivery which have formed such patterns.
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Market View for Wednesday 08 Dec 2010
Index Levels
BSE Sensex 19934.64 NSE Nifty 5976.55
Major Support 19824 – 19598 – 19230 Major Support 5939 – 5891 – 5789
Major Resistance 20008 – 20217 – 20380 Major Resistance 6001 – 6069 – 6144
View
The indices continued to trade indecisive with the day closing with a neutral pattern on candle stick charts. The bias continued to be weak and is expected continue again today. For the day support should be watched @ 19824 for the Sensex and 5939 for the Nifty. On the higher side resistance could come in @ 20008 for the Sensex and 6001 for the Nifty. Hold a Low profile
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Market View for Tuesday 07 Dec 2010
Index Levels
BSE Sensex 19981.31 NSE Nifty 5992.25
Major Support 19944 – 19598 – 19230 Major Support 5981 – 5891 – 5789
Major Resistance 20217 – 20380 – 20599 Major Resistance 6069 – 6144 – 6203
View
As expected the indices traded rangebound and indecisive. This is on back of no triggers which could help the market players decide on the move of the markets. The indices seem to be taking a pause for the launch of PROFISION PRO. With the heavyweights not showing good patterns it is advised that investors should stick to a wait and watch approach. For today watch support @ 19944 for the Sensex and 5981 for the Nifty. On the higher side resistance comes in @ 20217 for the Sensex and 6069 for the Nifty. Hold a low profile…
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Market View for Monday 06 Dec 2010
Index Levels
BSE Sensex 19966.93 NSE Nifty 5992.80
Major Support 19598 – 19230 Major Support 5891 – 5789
Major Resistance 20084 – 20380 – 20599 Major Resistance 6029 – 6144 – 6203
View
The indices bounced back last week with a good technical formation. The recent correction witnessed in the markets saw them taking support @ the upper band of the channel from which the indices had broken out in the month of September. The trade this week will be choppy and an indecisive close on the weekly closing cannot be ruled out. Individual stocks are not showing good formations as of now and therefore investors should stick to a wait and watch approach. As of levels the sensex has a good support coming in @ 19598 and the Nifty has it @ 5891 levels. On the higher side the Sensex could face resistance this week @ 20380 and the Nifty could face it @ 6144 levels. Hold a Low profile…
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Market View for Friday 03 Dec 2010
Index Levels
BSE Sensex 19992.70 NSE Nifty 6011.70
Major Support 19917 – 19690 – 19529 Major Support 5980 – 5915 – 5871
Major Resistance 20084 – 20371 Major Resistance 6029 – 6075 – 6144
View
The indices opened with gap up opening and trade flat throughout the day. The heavyweights are still not showing good formations which can help the indices move up sharply. For the day the markets are again expected to remain dull. A gap up or gap down opening will make the markets move as per the intraday trading positions. For the day watch resistance @ 20084 for the Sensex and 6029 for the Nifty. On the lower side supports come in @ 19917 for the Sensex and 5980 for the Nifty. A breach of these levels could see the indices move in that direction but choppy trade is expected to continue. As of now with stocks not showing strong signals it is better to hold a low profile….
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Market View for Thursday 02 Dec 2010
Index Levels
BSE Sensex 20355.63 NSE Nifty 6117.55
Major Support 19690 – 19529 Major Support 5915 – 5871
Major Resistance 19887 – 20056 – 20371 Major Resistance 5971 – 6075 – 6144
View
The last 3 days have seen the indices bounce back steadily. The indices have now approached an intermediate short term resistance @ 19887 for the Sensex and 5971 for the Nifty. These levels are crucial as they had proved to be good supports before the markets cracked them in the third week of the last month. If the indices manage to cross these levels then expect them to come out of the bear hold. If these levels are not cracked on the higher side then the indices could test supports @ 19690 for the Sensex and 5915 for the Nifty. Choppy intraday trade to continue for some time now. Hold a Low profile
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Market View for Tuesday 30 Nov 2010
Index Levels
BSE Sensex 19405.10 NSE Nifty 5830.00
Major Support 19230 – 19167 – 18954 Major Support 5754 – 5690
Major Resistance 19450 – 19628 Major Resistance 5843 – 5907 – 6020
View
The markets bounced back yesterday after testing supports from the upper end of the channel which the indices had broken in September 2010. This was a good sign for the markets but as of now with one days jump it could also prove to be a dead cat bounce. Therefore we need to watch if the indices move up with sustained buying coming in the markets. Choppy sessions are here to stay like as it was for yesterday. Individual stocks are still not displaying any patterns and should be avoided as of now. As for levels the Sensex has a support @ 19230 and Nifty has it @ 5754 levels. Above these levels the indices should manage to stay afloat. On the higher side tough time could be faced @ 19450 and 5843 for the Sensex and the Nifty respectively. Hold a Low profile
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Market View for Monday 29 Nov 2010
Index Levels
BSE Sensex 19136.61 NSE Nifty 5751.95
Major Support 18954 – 18780 – 18461 Major Support 5690 – 5559
Major Resistance 19425 – 19713 – 19989 Major Resistance 5836 – 5920 – 6020
View
The markets continued to correct throughout the week with extreme high choppiness in the intraday trade. At current levels the markets are trading just above supports coming in from the upper band of the channel which the indices had broken out from in September 2010. These levels should be closely watched during this week. Supports come in @ 18780 for the Sensex and 5690 for the Nifty. On the higher side resistance comes in @ 19713 for the Sensex and 5920 for the Nifty. For the week the markets are expected to trade choppy and dull. The bias would remain to be weak. Wait for a clear direction on the individual stocks. Hold a Low profile
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Market View for Friday 26 Nov 2010
Index Levels
BSE Sensex 19318.16 NSE Nifty 5799.75
Major Support 19257 – 19026 – 18845 Major Support 5780 – 5699 – 5639
Major Resistance 19439 – 19560 – 19628 Major Resistance 5841 – 5883 – 5907
View
The markets continued to sell off on the back of the corruption cases being filed and arrests being made. The saying – ‘Der Hain Andher Nahin’ proved to be correct with the Bihar win for Nitish. People in Bihar compared 15 years of Lalu raj and 5 years of Nitish’s governance and voted all out for him. There cannot be a better judgment then this one seen in Bihar. People have patience but they also have a limit to it. Coming back to our markets the bribery scams which are opening up could spell disaster for realty and infrastructure companies. If any more things come out then we could see some major downslides in these stocks. The modus operandi for all these companies have been same therefore if one has come in the limelight others will automatically come under the scanner. For the indices today watch resistance @ 19439 and 5841. Below these levels the indices will continue to trade choppy with a negative bias. On the lower side the fall should see the Sensex testing 19026 – 18845 and the Nifty could see itself testing support @ 5699 – 5639 levels. Choppiness will stay for now. Hold a Low profile
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Market View for Thursday 25 Nov 2010
Index Levels
BSE Sensex 19459.85 NSE Nifty 5865.75
Major Support 19375 – 19342 Major Support 5833 – 5824
Major Resistance 19735 – 19835 – 19989 Major Resistance 5946 – 5976 – 6020
View
The markets sold off as India inc nailed corrupt officers or banks and institutions. The recent cases of corruption tell us the power that India has in terms of money but the problem is that all the money is been used for the wrong reasons. As a tax payer it is bad feeling when politicians and bureaucrats are seen laundering your hard earned money. Coming back to the markets today the indices are again expected to remain choppy with the November contracts expiring. Sensex has a support @ 19375 and Nifty has it @ 5833 levels. On the higher side resistance comes in @ 19735 and 5946 for the Sensex and the Nifty. Investors should wait and watch for some nice formations on individual stock charts. The indices also continue to trade with a negative bias. Hold a Low Profile
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Market View for Wednesday 24 Nov 2010
Index Levels
BSE Sensex 19691.84 NSE Nifty 5934.75
Major Support 19342 Major Support 5824
Major Resistance 19841 – 19989 – 20056 Major Resistance 5973 – 6020 – 6074
View
The markets witnessed a choppy session with the indices selling off and recovering most of the losses by closing hours. The choppiness if expected to continue for some more days till a clear direction is decided by the indices. By now the indices have corrected by approximately 5 % from the recent highs and this kind of movement should not be a sign of worry. As we have said that holding a low profile in these markets is the best strategy. As of levels the indices today could see resistance coming from highs made yesterday. These levels come in @ 19841 for the Sensex and 5973 for the Nifty. On the lower side supports come in @ 19342 for the Sensex and 5824 for the Nifty. Hold a Low Profile
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Market View for Tuesday 23 Nov 2010
Index Levels
BSE Sensex 19957.59 NSE Nifty 6010.00
Major Support 19835 – 19713 – 19641 Major Support 5965 – 5863
Major Resistance 19989 – 20056 – 20118 Major Resistance 6020 – 6075 – 6144
View
The markets started the week with a bounce back after witnessing a selloff in the last week. The day now is expected to be choppy and the prices would continue to consolidate further. For the day watch resistance @ 19989 – 20056 for the Sensex and 6020 – 6075 for the Nifty. On the lower side supports come in @ 19835 for the Sensex and 5965 for the Nifty. Expect the day to trade between these levels. It is time to stay with a low profile till the markets display some action. Wait for stocks to display some strong moves and form some patterns for them to be picked. Till then have a wait and watch approach
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Market View for Monday 22 Nov 2010
Index Levels
BSE Sensex 19585.44 NSE Nifty 5890.30
Major Support 19504 – 19220 – 18790 Major Support 5863 – 5762 – 5710
Major Resistance 19876 – 20167 – 20380 Major Resistance 5985 – 6079 – 6144
View
Last week the markets cracked their immediate support levels. Looking at weekly charts the formation of the price does not look of anything to worry. This means correction or consolidation as we term it should not be a worry. It should be healthy for the markets. The next supports for the markets which they would test come in the up trending channel which it had broken out from in the month of September recently. These levels are 18790 for the Sensex and 5710 for the Nifty. The markets would remain choppy and volatility could remain high. During this period scrip specific movement will continue to happen. In the downward bias continues then it would means a period of low activity for the investors who should pick stocks wisely. On the higher side resistance comes in @ 19876 and 5985 for the Sensex and the Nifty respectively. Hold a Low Profile
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Market View for Friday 19 Nov 2010
Index Levels
BSE Sensex 19930.64 NSE Nifty 5998.80
Major Support 19615 – 19445 Major Support 5906 – 5828
Major Resistance 20056 – 20118 – 20371 Major Resistance 6075 – 6143
View
As expected the markets traded choppy with selling witnessed in the early hours of trade. The good part of the day was the support taken by the market which saw it bounce back from lows and from support levels mentioned in yesterday’s newsletter. This level now has become more important with this bounce back. Friday is the last day of the week and now it is important for the markets to stay afloat if they crack again. The way the markets react at these support levels if they go down again is important. For the day watch support coming in from the lows made by the indices. These supports come in @ 19615 for the Sensex and 5906 for the Nifty. On the higher side resistance could come in @ 20056 for the Sensex and 6075 for the Nifty. Hold a Low Profile
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Market View for Thursday 18 Nov 2010
Index Levels
BSE Sensex 19865.14 NSE Nifty 5988.70
Major Support 19768 – 19771 – 19445 Major Support 5937 – 5932 – 5828
Major Resistance 20118 – 20371 Major Resistance 6066 – 6143
View
The markets sold off on Tuesday following the last weeks trend. The indices have now reached support levels. These are ones which we have discussed in the last few newsletters. These are crucial levels for the short term. If these levels are broken then there are chances that the correction could deepen. Investors should remember that the medium and long term trends which are up are still intact and this move should not bring in worry for them. Stocks bought on short term basis are the ones which need to be tracked for stop losses closely. For today watch immediate and major support @ 19768 – 19771 for the Sensex and 5937 – 5932 for the Nifty. On the higher side resistance comes in @ 20118 for the Sensex and 6066 for the Nifty. Higher sides would be capped. Tomorrows closing would be important to judge the short term direction. Choppiness will be high and it is better to hold a low profile
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Market View for Tuesday 16 Nov 2010
Index Levels
BSE Sensex 20309.69 NSE Nifty 6121.60
Major Support 20167 – 20046 – 19768 Major Support 6039 – 5937
Major Resistance 20335 – 20529 – 20593 Major Resistance 6182 – 6202
View
The indices survived the sell off witnessed on Thursday and Friday last week. Today could be another choppy day with the indices trading between supports @ 20167 for the Sensex and 6039 for the Nifty. On the higher side they would find resistance @ 20335 and 6182 for the Sensex and the Nifty respectively. Hold a Low Profile
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Market View for Monday 15 Nov 2010
Index Levels
BSE Sensex 20156.89 NSE Nifty 6071.65
Major Support 20108 – 19768 – 19445 Major Support 6056 – 5937 – 5885
Major Resistance 20599 – 21041 – 21108 Major Resistance 6203 – 6335
View
The last week saw the markets correct by approx 5% with the last two days of the week contributing more to the fall than the rest of the week. This move has made market players and to be specific the Indian retailers skeptical of the direction of the markets. But remember the indices are trading near all time high levels and therefore this kind of choppiness and sharp moves or corrections should be expected. For the coming week support for the Sensex exists @ 19768 and 5937 for the Nifty. These are important levels and should not be cracked if the markets continue to correct. If these levels are broken then the indices could see themselves correcting to the channel breakout levels of September 2010. But for now watch the supports closely. On the higher side resistance exists @ 20599 for the Sensex and 6203 for the Nifty. Hold a low profile for now. We need to now watch the way the markets react at the above mentioned support levels
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Market View for Thursday 11 Nov 2010
Index Levels
BSE Sensex 20875.71 NSE Nifty 6275.70
Major Support 20849 – 20762 – 20605 Major Support 6269 – 6243 – 6199
Major Resistance 20970 – 21108 Major Resistance 6307 – 6338
View
The indices traded flat a expected. This is a period of cautiousness as market players are seem to still be enjoying the Diwali holidays. The next week could be full of action but till then the dullness would remain. Consolidation is a healthy for the markets. This is also a period where the views built in the markets are mixed on the direction. Everybody agrees to the bullishness in the markets but fears to invest at these levels because of the memories of the carnage in 2008. The best thing which investors should remember is a stop loss for every trade. This helps you stay with good stocks and exit the bad ones. Does it mean that this does not fail – NO. The chances of failure are there but with the correct risk management and money management techniques when implemented the failures automatically subside. For the Sensex watch resistance @ 20970 and for the Nifty @ 6307. On the lower side supports should be watched @ 20849 and 6269 for the two indices. Choppiness is here to stay. Let this not shake your foundation of belief on your investing techniques because this is phase which is there today and will not be there in some days. Hold a scrip specific view
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Market View for Wednesday 10 Nov 2010
Index Levels
BSE Sensex 20932.48 NSE Nifty 6301.55
Major Support 20762 – 20749 – 20605 Major Support 6243 – 6209 – 6146
Major Resistance 20984 – 21075 – 21108 Major Resistance 6310 – 6335 – 6338
View
The indices traded choppy throughout the day. The movements were sharp and strong in the intraday session. This is a move which is expected to stay as the indices trade near all time high levels. Today for the Sensex resistance exists @ 20984 and for the Nifty @ 6310. On the lower side supports come in @ 6243 for the Nifty @ 20762 for the Sensex. Hold a scrip specific view
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Market View for Tuesday 09 Nov 2010
Index Levels
BSE Sensex 20852.38 NSE Nifty 6273.20
Major Support 20749 – 20605 – 20426 Major Support 6245 – 6209 – 6146
Major Resistance 21075 – 21108 – 21206 Major Resistance 6335 – 6338
View
The indices corrected after opening with a gap up opening. The intraday trade was choppy with the indices first staying range bound then giving a downward breakout and later an up ward breakout and finally managing to close where they had opened. Such choppy trades are expected to continue further till we have a direction decided. At all time high levels the mood with remain a bit cautious though we could see the money flowing in. as of levels watch resistance for the Sensex @ 21075 and for the Nifty @ 6335 and supports should be watched @ 20749 and 6245 for the two indices respectively. Hold a scrip specific view
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Market View for Thursday 04 Nov 2010
Index Levels
BSE Sensex 20465.74 NSE Nifty 6160.50
Major Support 20426 – 20281 – 19986 Major Support 6146 – 6094 – 6084
Major Resistance 20538 – 20609 Major Resistance 6182
View
The indices opened with a gap up opening but as we have witnessed in the recent past the markets later fail to continue the moment and the same was witnessed yesterday. It’s a long holiday weekend and therefore the markets are expected to trade with dull activity. For today the resistance for the Sensex exists @ 20538 and for the Nifty @ 6182. On the lower side the supports come in @ 20426 for the Sensex and 6146 for the Nifty. Hold a scrip specific view
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Market View for Wednesday 03 Nov 2010
Index Levels
BSE Sensex 20345.69 NSE Nifty 6119.00
Major Support 20281 – 19986 – 19768 Major Support 6094 – 6084 – 6021 – 5937
Major Resistance 20418 – 20609 Major Resistance 6132 – 6138
View
The markets opened flat but traded choppy throughout the day to close near to where they had opened. This was mainly due to two reasons – one is the Diwali holidays and the second is the huge gap up opening which was witnessed day before yesterday. For today watch the high and lows made between yesterday and day before as crucial trend deciders. Resistance would come in @ 20418 – 20609 for the Sensex and 6132 – 6138 for the Nifty. On the lower side supports come in @ 20281 and 6094 for the Sensex and the Nifty respectively. Hold a scrip specific view as the indices are expected to remain choppy
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Market View for Tuesday 02 Nov 2010
Index Levels
BSE Sensex 20355.63 NSE Nifty 6117.55
Major Support 20267 – 19986 – 19768 Major Support 6084 – 6021 – 5937
Major Resistance 20609 Major Resistance 6132
View
The markets opened with huge gap up opening. During the day due to the technical snag with BSE the indices traded more or less flat. For today the highs of yesterday will act as major resistance. These levels come in @ 20609 for the Sensex and 6132 for the Nifty. Below these levels the consolidation will continue. On the lower side supports exists @ 20267 – 19986 for the Sensex and 6084 – 6021 for the Nifty. Hold a scrip specific view
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Market View for Monday 01 Nov 2010
Index Levels
BSE Sensex 20032.34 NSE Nifty 6017.70
Major Support 19768 – 19445 Major Support 5937 – 5885 – 5639
Major Resistance 20452 – 20854 Major Resistance 6151 – 6284
View
The indices traded fourth week in a row in with indecisive mood. The consolidation continues and as I have been saying that it would be good for the markets. The index heavy weights continue to consolidate as the action continues in side counters. For the week watch support for the Sensex @ 19768 and for the Nifty @ 5937. On the higher side resistance exists @ 20452 and 6151 for the Sensex and the Nifty. The markets are expected to remain flat with scrip specific action taking the centre stage.
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Market View for Friday 29 Oct 2010
Index Levels
BSE Sensex 19941.04 NSE Nifty 5987.70
Major Support 19869 – 19822 – 19771 Major Support 5968 – 5966 – 5932
Major Resistance 20116 – 20185 Major Resistance 6039 – 6071
View
The markets started the day with a gap down opening later on managing to cover up all the losses and move in the green in a strong way but the close was not what the players expected and the indices lost all the gains. The Nifty witnessed a fall of approximately 100 points from its days high during the last one hour of trade. One good thing in the markets was that the supports were not cracked and this is something which can keep bulls alive. For the day it is important for all players to watch the supports closely. Sensex has a support @ 19822 – 19771 levels and Nifty has it @ 5966 – 5932. The higher sides could be capped and resistance could come in @ 20116 for the Sensex and 6039 for the Nifty. The choppiness is expected as the markets witness onslaught on the earnings and global cues. Hold a scrip specific view
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Market View for Thursday 28 Oct 2010
Index Levels
BSE Sensex 20005.37 NSE Nifty 6012.65
Major Support 19923 – 19822 – 19771 Major Support 5987 – 5966 – 5932
Major Resistance 20112 – 20220 Major Resistance 6044 – 6075
View
The markets started the day with a gap don opening trading flat till noon finally to gave way for the shorts to overcome the longs. The day ended in the red for the indices. With the yesterdays closing it looks like the markets have made a lower top on short term charts and now it is to be seen whether they make a lower bottom today. If that happens then the correction could deepen further. But till then and for the day watch supports @ 19822 – 19771 for the Sensex and 5966 – 5932 for the Nifty. On the higher side the indices could test resistance @ 20112 and 6044 for the two indices. Hold a scrip specific view
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Market View for Wednesday 27 Oct 2010
Index Levels
BSE Sensex 20221.39 NSE Nifty 6082.00
Major Support 20189 – 20088 – 19951 Major Support 6074 – 6041 – 5984
Major Resistance 20344 – 20452 – 20578 Major Resistance 6120 – 6151 – 6200
View
The markets traded flat and dull as expected. Tomorrow is October contracts expiry and the movement for today and tomorrow would be mostly driven by positions been squared off or shifted. With the markets doing nothing it is time for investors to hold a low profile. Today the Sensex has support @ 20088 and Nifty has it @ 6041. On the higher side the resistance would come in @ 20344 for the Sensex and 6120 for the Nifty. Between this range the markets would remain dull. A breakout above or below could bring up stocks with some action but till then watch the markets from the sidelines. No stock picks as of today.
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Market View for Tuesday 26 Oct 2010
Index Levels
BSE Sensex 20303.12 NSE Nifty 6105.80
Major Support 20199 – 20088 – 19951 Major Support 6094 – 6041 – 5984
Major Resistance 20452 – 20578 – 20854 Major Resistance 6151 – 6200 – 6284
View
The markets opened strong and managed to continue their ride as traders ran after the prices as if the prices had ran away. But as usual the indices gave way as selling gripped the markets to see the indices close near to where they had opened. For today the move would not be different as choppiness is expected to stay for some time now. 20199 is a good support for the Sensex and 6094 for the Nifty. On the higher side resistance comes in @ 20452 and 6151 for the Sensex and the Nifty respectively. Hold a scrip specific view…
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Market View for Friday 22 Oct 2010
Index Levels
BSE Sensex 20260.58 NSE Nifty 6101.50
Major Support 20105 – 19822 Major Support 6055 – 5966
Major Resistance 20332 – 20578 – 20854 Major Resistance 6127 – 6200 – 6284
View
The indices bounced back from support levels. The levels of 19822 for the Sensex and 5966 for the Nifty are now crucial levels to watched as supports for the short term. With this the indices are expected to move up but may continue to trade in a range for some days. This could help the market’s gains strength to move up further latter on. For the day watch supports coming in @ 20105 for the Sensex and 6055 for the Nifty. The October derivatives expiry is approaching and hence the moves in these last 5 days of trade would be more of position specific. Hold a scrip specific view.
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Market View for Tuesday 19 Oct 2010
Index Levels
BSE Sensex 20168.89 NSE Nifty 6075.95
Major Support 19870 – 19864 – 19771 Major Support 5985 – 5963 – 5932
Major Resistance 20229 – 20518 Major Resistance 6115 – 6175
View
After a sideways trade the markets displayed a good bounce in the late hours. The levels from which the indices bounced will act as good supports for today. These should be watched @ 19870 – 19864 for the Sensex and 5985 – 5963 for the Nifty. On the higher side resistance is expected to come in @ 20229 and 6115 for the Sensex and the Nifty respectively. Hold a low profile as the indices are expected to remain sideways for now.
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Market View for Monday 18 Oct 2010
Index Levels
BSE Sensex 20125.05 NSE Nifty 6062.65
Major Support 19864 – 19445 – 19220 – 18845 Major Support 5963 – 5885 – 5762 – 5639
Major Resistance 20291 – 20854 Major Resistance 6105 – 6284
View
The indices get ready for a consolidation as the strong hand in the markets and all ARJUN’s get ready to rejoice the recent rally. The indices started off with a big bang but by the weeks closing gave away all the gains. This move is an expected move as the indices try to survive the all time high levels. These levels also remind us of the aftermath that the markets witnessed the last time that they had been here in 2008. This was also a period when most of the investors had got onto this bus of the stock markets. And lets not forget that most of investors continued to hold the stocks which they had bought at these levels for the last two years without triggering their stop losses. As the markets approach these levels back we see them coming back to sell which is bringing in resistance. Along this the new entrants have also become skeptical. This correction or consolidation is expected to be good for the markets as they would be able to renew the strength of the strong hand. I have been continuously mentioning that it is important to be with the strong hand because he is the one who has the capacity to make the markets move. Players in the markets will be witnessed saying something or the other but this strong will not come out in media to tell you what he is being doing. Therefore the best way to know what this strong hand is doing are the PROFISION charts. With Precision Assist to guide you in PROFISION an ARJUN can never miss the bus. This is a good time for all the ARJUN’s to restructure their portfolios. See if they have any non performing stocks in the portfolio and shift them to stocks with opportunities as and when they are picked by Precision Assist. The next week could see resistance coming in from highs made this week. 20291 – 20854 are resistances for the Sensex and 6105 – 6284 for the Nifty. Below these levels the markets could remain under pressure which would in turn bring in choppiness. A period to hold a low profile on the overall strategy keeping a close watch on stocks picked by Precision Assist as and when there is an opportunity is advised. On the lower side the correction could see the indices testing supports @ 19864 – 19445 for the Sensex and 5963 – 5885 for the Nifty
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Market View for Friday 15 Oct 2010
Index Levels
BSE Sensex 20497.64 NSE Nifty 6177.35
Major Support 20442 – 20223 Major Support 6157 – 6091
Major Resistance 20700 – 20854 Major Resistance 6234 – 6284
View
After a big rally day before yesterday the markets cooled off a bit. The strength continues as the closing for both the indices remained above the median. For today if the markets open flat there will not be any doubt about the direction. Problem would be only if the indices open with a gap up opening. As of levels supports should be watched @ 20442 for the Sensex and 6157 for the Nifty. On the higher side resistance comes in @ 20700 and 6234 for the Sensex and the Nifty respectively. Hold a scrip specific view
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Market View for Thursday 14 Oct 2010
Index Levels
BSE Sensex 20687.88 NSE Nifty 6233.90
Major Support 20455 – 20223 Major Support 6162 – 6091
Major Resistance 20706 – 21206 Major Resistance 6357
View
The markets gave big thumbs up yesterday as the strong hand in the markets celebrated the move. The domestic hand was busy filling redemption slips. It is very normal to witness such a thing because a lay man thinks that if I don’t make money ever and this time I am making some then lets redeem it. Anyways we need such idiots so that all our Arjuns can make money in the markets. For today watch support @ 20455 for the Sensex and 6162 for the Nifty. Above these levels the indices would continue to move up to hit the all time high levels. A gap up opening could be a spoil sport. Hold a Scrip Specific View
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Market View for Tuesday 12 Oct 2010
Index Levels
BSE Sensex 20339.89 NSE Nifty 6135.85
Major Support 20274 – 20145 Major Support 6105 – 6067
Major Resistance 20461 – 20581 – 20669 Major Resistance 6187 – 6223
View
The markets gave all the gains but displayed a good bounce back from the lower levels. For today the indices are expected to stay flat and choppy. Supports should be watched @ 20274 for the Sensex and 6105 for the Nifty. On the higher side resistance comes in @ 20461 and 6187 for the Sensex and the Nifty respectively. Hold a low profile…
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Market View for Friday 08 Oct 2010
Index Levels
BSE Sensex 20315.32 NSE Nifty 6120.30
Major Support 20272 – 20094 – 19864 Major Support 6107 – 6030 – 5963
Major Resistance 20429 – 20581 – 20706 Major Resistance 6153 – 6223
View
Consolidation is on cards and should be healthy for the markets in coming medium term. Approximately after two long months of an upward move we witnessed a correction in yesterdays trade. The markets need a breather and so do the individual stocks. The ones who have not participated in this rally should be termed as laggards and this correction or consolidation should be used to restructure your portfolios. For today the Sensex has a resistance @ 20429 – 20581 and for the Nifty it comes in @ 6153 – 6223 levels. Below these levels the markets would continue to consolidate. Gap up or gap down opening could make the markets move as per the intraday trading positions. But overall for investors they should know that consolidation is in. on the lower side the indices correcting themselves to test supports @ 20094 – 19864 for the Sensex and 6030 – 5963 for the Nifty should not be a sign of worry. Keep watching stop losses for individual stocks and don’t forget to act on them if triggered. Overall it is time to rest… Hold a low profile….
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Market View for Friday 01 Oct 2010
Index Levels
BSE Sensex 20069.12 NSE Nifty 6029.95
Major Support 19931 – 19864 Major Support 5991 – 5963
Major Resistance 20114 – 20157 – 20267 – 21206 Major Resistance 6048 – 6073 – 6260
View
A long awaited verdict is finally out. The political parties may be happy or may not but investors like you and me are sure going to be happy because we now have clarity. The uncertainty is gone. People can invest without fear but with risk management in place. Never forget it. As I have been mentioning that charts know it better and in advance. Yesterday closing itself told us that the verdict would be positive and good for all. For today watch supports come in @ 19931 for the Sensex and 5991 for the Nifty. On the higher side resistance comes in @ 20157 and 6073 for the Sensex and the Nifty. Hold a scrip specific view…
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Market View for Wednesday 29 Sep 2010
Index Levels
BSE Sensex 20104.86 NSE Nifty 6029.50
Major Support 19981 – 19940 – 19836 Major Support 5991 – 5959 – 5932
Major Resistance 20157 – 20267 – 21206 Major Resistance 6050 – 6073 – 6260
View
The indices traded indecisive with the closing being a Doji pattern on candlestick charts. As we already know that as the indices trade near the all time high levels with the September contracts expiry and the Ayodhya verdict scheduled for Thursday the markets would get cautious. Today could another day of dullness and low volumes. For levels watch resistance for the Sensex @ 20157 and for the Nifty @ 6050. On the lower side supports come in @ 19981 and 5991 for the Sensex and the Nifty respectively. Hold a Low Profile for the day
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Market View for Tuesday 28 Sep 2010
Index Levels
BSE Sensex 20117.38 NSE Nifty 6035.65
Major Support 20082 – 19940 – 19836 Major Support 6018 – 5959 – 5932
Major Resistance 20267 – 21206 Major Resistance 6073 – 6260
View
The markets opened with a gap up opening but failed to stay afloat to end the day giving up all the gains. For Tuesday one needs to watch the support levels closely. They if are cracked then the indices could correct themselves to test supports @ 19940 for the Sensex and 5959 for the Nifty. On the higher side resistance comes in from the highs made on Monday. Resistance for the Sensex comes in @ 20267 and 6073 for the Nifty. Choppiness is expected to remain high. Hold a scrip specific view
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Market View for Monday 27 Sep 2010
Index Levels
BSE Sensex 20045.18 NSE Nifty 6018.30
Major Support 19745 – 19445 – 19220 Major Support 5951 – 5885 – 5762
Major Resistance 20105 – 21206 Major Resistance 6037 – 6260
View
The markets enjoyed the breakout for a consecutive second week. The move has been straight with choppiness coming in due to the Ayodhya verdict date which finally was being postponed for the next week. It really is surprising that a high panel judge thinks of a 1% chance after 18 years of fight over the issue. Something which did not happen in 18 years is sought in 4 days of extension. Whenever there are such events happening the markets are expected to cautious. But remember at same time when these events phase out the markets would get renewed energy to continue their momentum. The coming week has two main events happening one is the Ayodha verdict which is scheduled for 29th and the September contracts expiry which is scheduled for 30th September 2010. Both the events could bring choppiness in the markets. As for levels the Sensex has a support @ 19745 and Nifty has it @ 5951 levels. Above these levels the bulls with continue to charge. On the higher side next resistance comes in @ 20105 – 21206 for the Sensex and 6037 – 6260 for the Nifty. As the indices trade near all time high levels the markets are full of skeptical and fearful views. But remember the strong hand does not come and inform the media before doing something in the markets. This means all those who discuss views in the markets are not the strong hands in the market. But at the same time you as ‘ARJUN’s’ are always with the strong hand with the help of PROFISION charts. The charts display the truth and are built of facts. FOR THE COMING WEEK CONTINUE TO HOLD A SCRIP SPECIFIC VIEW
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Market View for Friday 24 Sep 2010
Index Levels
BSE Sensex 19861.01 NSE Nifty 5959.55
Major Support 19771 – 19675 – 19445 Major Support 5932 – 5885
Major Resistance 19998 – 20088 – 21206 Major Resistance 6006 – 6032 – 6260
View
The markets remained puzzled as India seemed to be heading for a standstill with the verdict of Ayodhya issue. In the middle of the day the supreme court stayed the proceedings for another few days. It seems they all have forgotten ‘KAL KARE SO AAJ KAR, AAJ KARE WO AB’. We already have a lot of research to do for our investments lets not break our heads on this. Coming back to our markets – Sensex has a support @ 19771 and Nifty has it @ 5932. These levels are important and on breaking below these levels we could see the consolidation continuing. On the higher side highs created on Thursday are expected to play an important role. Gap up and gap down openings will play spoil sport for the day’s trade as they could lead to choppiness. Hold a scrip specific view…
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Market View for Wednesday 22 Sep 2010
Index Levels
BSE Sensex 20001.55 NSE Nifty 6009.05
Major Support 19860 – 19675 – 19445 Major Support 5961 – 5932 – 5885
Major Resistance 20088 – 21206 Major Resistance 6032 – 6260
View
The markets continued their journey northwards. As they reached a sentimental level of 20000 the indices turned choppy and so can be seen with the closing pattern on candlestick charts which is a spinning top. Wednesday is Lord Ganesha immersion and therefore is expected to trade with low volumes. A cautious mood could also prevail as India heads for a crucial verdict in the 1992 Babri Masjid case which is scheduled for 24th Sept. This was an event in 1992 after 1947 which brought the whole country to a standstill. Therefore lets keep our fingers crossed and pray to god that things go on well and India does not have to shed blood again this time. Coming back to levels indices are heading for all time highs. There is a consolidation which is expected and could happen any time soon. But investors need not worry. Stay strict with your decisions and your stop losses. Sensex has a resistance @ 20088 and Nifty has it @ 6032. Supports should be watched @ 19860 – 19675 for the Sensex and 5961 – 5932 for the Nifty. Hold a low profile
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Market View for Tuesday 21 Sep 2010
Index Levels
BSE Sensex 19906.10 NSE Nifty 5980.45
Major Support 19675 – 19445 Major Support 5932 – 5885
Major Resistance 19965 – 21206 Major Resistance 6260
View
The indices continue to zoom. Bulls are on a rampage mode after a long time. This excitement is here to stay and don’t feel bad if we witness a correction. The markets continue with Indian investors continuing to remain in fear. But the strong hand in the market knows it better. And the PROFISION charts help you to stay with the strong hand. With this in mind also be prepared for a breather which is expected anytime soon. This could be also be an intraday breather. As for levels a breather could see the indices testing supports @ 19675 for the Sensex and 5932 for the Nifty. On the higher side the next targets for the indices could be 19965 – 21206 for the Sensex and 6260 for the Nifty. As we head for the All Time Highs there are a lot of retailers and last minute jumping jacks who had got in the markets at that level in 2008 and did not exit the markets when their stop losses were been hit. They could bring in choppiness at those levels. But remember the markets always trade with the strong hands. Hold a scrip specific view….
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Market View for Monday 20 Sep 2010
Index Levels
BSE Sensex 19594.75 NSE Nifty 5884.95
Major Support 19220 – 18845 – 18461 Major Support 5762 – 5639 – 5560
Major Resistance 19639 – 19965 – 21206 Major Resistance 5902 – 5957 – 6260
View
A firm breakout sustained for the last two weeks and that too after a consolidation of one whole year was an important event last week. The target for this pattern as per PROFISION charts for the Sensex is 25878 and for the Nifty is 7573. This means the Sensex will rally by approximately 6000 points and the Nifty by 2700 points. Technically this target is not expected to be achieved by tomorrow or day after or next month so let’s not get impatient and start feeling that we have missed the rally. At the same time let’s not get skeptical that the indices are trying to reach all time highs after a period of 2 long years and now they could witness a correction. One needs to know very clearly that corrections are here to stay – now it is how you take it as – you can either say that the glass is half full or can say that the glass is half empty. I know that in the stock markets an investor either makes money or loses money – there is no third thing which happens but the problem on which an investor needs to work on is that he does not admit a mistake and is not ready to rectify it. With a bullish view we say that we are heading for a rally – but in the mean time there could also be corrections on the way. Understand the difference between corrections and consolidations is important. Now on the markets would witness consolidations means – short term corrections with an overall up trend. They should not be cause for panic – and if they do make you panic then say – ‘Al IZ WELL’. This also means that if you come across a stock or stocks which hit your stop loss you should be ready to accept it – exit them and move on with new ones. Follow the portfolio management and money management rules. Normally an investor when loses money falls into a trap of changing his strategy. This is wrong. You need to follow and practice one single strategy throughout – only then you can achieve success – this is the mantra or the golden key for success and for opening the money box called the stock market. Commitment and Consistency is key. The charts may make you swing up and down but they should never be able to shake these two things because they are the main components which make up your foundation as an investor in the stock market. With a strong foundation you know that good days are not here to stay but along with them bad days will not trouble you much. Start your journey with improvised energy – you may already be in the markets but this time let it be a renewed start with a changed approach to look at the stock markets. The approach and the vision which Technical Analysis Guru has given you in the two day session which you attended. If you have difficulties or problems or doubts in your mind then discuss them with a Precision Technicals representative. Get all your queries solved from our Technical Experts. We are always by your side in your venture in the stock markets. Remember that money making in the stock markets is not restricted to the elite class anymore. You too can be a part of it. Coming back to levels for the coming week – with supports @ 18845 for the Sensex and 5957 for the Nifty the indices are expected to stay bullish. Don’t be afraid to wear Bull Horns on your head! That was just a joke days of wearing such things to make money are history now. Consolidations can be witnessed but would prove to be healthy for the markets. On the higher side next targets would be 19965 – 21206 for the Sensex and 5957 – 6260 for the Nifty. Now onwards with the indices in a strong upward trend one should continue to have a scrip specific view. You will come across a lot of stocks being picked by PROFISION and Precision Assist. Use it for your benefit because they are backed by our research and experience in the stock markets.
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Market View for Friday 17 Sep 2010
Index Levels
BSE Sensex 19417.49 NSE Nifty 5828.70
Major Support 19383 – 19343 – 19218 Major Support 5815 – 5795 – 5760
Major Resistance 19636 – 19965 – 21206 Major Resistance 5901 – 5957 – 6260
View
The markets took a breather after a straight rally for 11 trading sessions. Corrections at current levels would be healthy for the markets. The current high should be watched as a short term resistance. Resistance for the Sensex should be watched @ 19636 and for the Nifty @ 5901 levels. The correction could see the markets testing support @ 19383 – 19218 for the Sensex and 5815 – 5760 for the Nifty. Scrip specific is advised and take review on all the non performing stocks in your portfolio.
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Market View for Thursday 16 Sep 2010
Index Levels
BSE Sensex 19502.11 NSE Nifty 5860.95
Major Support 19343 – 19218 Major Support 5828 – 5795
Major Resistance 19554 – 19965 – 21206 Major Resistance 5869 – 5957 – 6260
View
The indices continued their journey northwards. In the last 11 trading sessions the Nifty has rallied by approximately 500 points and the Sensex has rallied by approximately 1600 points. The next target as has been mentioned in the newsletter for a lot many days is the all time high for both the indices. The indices are expected to take a breather anytime in the next two days before they continue this journey further. But till such a time one should stay bullish on the markets. As of levels watch resistance @ 19554 for the Sensex and 5869 for the Nifty. Above these levels the indices will continue to ride. On the lower side intraday corrections will find support @ 19343 and 5828 for the Sensex and the Nifty respectively. Hold a scrip specific view…
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Market View for Wednesday 15 Sep 2010
Index Levels
BSE Sensex 19346.96 NSE Nifty 5795.55
Major Support 19218 – 19026 Major Support 5760 – 5699
Major Resistance 19487 – 19965 – 21206 Major Resistance 5838 – 5957 – 6260
View
The indices started the day strong but failed to sustain by the fag end of the day. They gave up the gains to close more of less near the open. This sort of intraday correction is good for the markets going forward as this would provide further energy to the markets to rally. For today resistance comes in from yesterdays highs. For the Sensex @ 19487 and for the Nifty @ 5838 levels. On the lower side supports come in @ 19218 and 5760 levels for theSensex and the nifty respectively. Hold a scrip specific view…
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Market View for Tuesday 14 Sep 2010
Index Levels
BSE Sensex 19208.33 NSE Nifty 5760.00
Major Support 19026 – 18845 Major Support 5699 – 5639
Major Resistance 19243 – 19965 – 21206 Major Resistance 5770 – 5957 – 6260
View
The markets give a big thumbs up after the breakout from the up trending channel. This positive mood is expected to continue going forward. Intraday consolidations on the up way cannot be denied and therefore supports are to be watched. On higher side the indices are heading for all time high levels. Next targets could be 19965 for the Sensex and 5957 for the Nifty. On the lower side supports should help protect downfall come in @ 19026 and 5699 for the Sensex and the Nifty respectively. Hold a scrip specific view
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Market View for Monday 13 Sep 2010
Index Levels
BSE Sensex 18799.66 NSE Nifty 5640.05
Major Support 18540 – 18461 Major Support 5600 – 5559
Major Resistance 18895 – 19965 – 21206 Major Resistance 5705 – 5957 – 6260
View
On weekly closing the indices have closed above the trending channel. This pattern should help the indices move up fast as the indices have now crossed all the resistance levels and sentimental barriers. The levels to watch for this week are supports coming in @ 18461 for the Sensex and 5559 for the Nifty. Above these levels the indices would remain strong. The indices now should head for higher targets. It is likely that the indices test the level which they had broken last week as after a breakout a resistance becomes a support. Hold a scrip specific view…
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Market View for Thursday 09 Sep 2010
Index Levels
BSE Sensex 18666.71 NSE Nifty 5607.85
Major Support 18540 – 18342 – 18124 Major Support 5567 – 5528 – 5479
Major Resistance 18721 – 18895 Major Resistance 5625 – 5705
View
The markets close indecisive after a choppy trade. The formation on candlestick patterns is a spinning top which symbolizes an indecisive period. This could possibly be as the indices are trading near crucial levels on the higher side of the current trading range and secondly due to the long and festive weekend. For today the same mood is expected to prevail in the markets as on Friday everybody welcomes a god who looks beautiful in any form. No prizes for guessing it right – it is everybody’s favourite god ‘GANESHA’. He does not see religion neither does he have a problem in wearing different attire – he is one of the gods who looks beautiful in anything he does and anything he wears. And the best part is there are no issues raised by politicos if you give him a changeover. ‘GANAPATI BAPPA MORYAA’. Coming back for today we need to watch levels of 18721 for the Sensex and 5625 for the Nifty as resistance levels. On the lower side supports come in @ 18540 and 5567 for the Sensex and the Nifty respectively. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Wednesday 08 Sep 2010
Index Levels
BSE Sensex 18645.06 NSE Nifty 5604.00
Major Support 18571 – 18342 – 18124 Major Support 5575 – 5528 – 5479
Major Resistance 18711 – 18895 Major Resistance 5625 – 5705
View
The indices cross the resistance levels mentioned yesterday in the newsletter. The close has been marginally above these levels despite having faced a selloff in the late trading hours. The markets are heading for a long festive weekend and therefore the next two days of trades are crucial for the overall markets. The indices need to sustain above these resistance levels for the next two days and firm closing above this band will ensure that the markets head northwards in the days to come. As of levels the Sensex has a resistance @ 18711 and Nifty has it @ 5625 levels. These levels if crossed would see the indices staying in strong hands. On the lower side supports should be watched @ 18571 for the Sensex and 5575 for the Nifty. Hold a Scrip Specific Vie
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Market View for Tuesday 07 Sep 2010
Index Levels
BSE Sensex 18560.05 NSE Nifty 5576.95
Major Support 18342 – 18124 Major Support 5528 – 5479
Major Resistance 18600 – 18895 Major Resistance 5589 – 5705
View
The overall markets rejoice as the US data suggests a diminishing recession. The Indian markets in the last one year have bucked the trend of the global markets outperforming them. We already know that the worst for the global markets will be the opportunity for us. The global money continues to flow in our markets. PROFISION picks have suggested that in the last one year maximum of money has flown into newer stories than the index heavy weights. Lately the indices have been trading in an up trending channel. Today though on intraday basis was a strong close but on a short term basis is just below crucial resistances which come in from this trending channel. Can the indices manage to cross these levels is something which we need to observe now. These levels are @ 18600 for the Sensex and 5589 for the Nifty. If the indices fail to break past these levels then we would see them correcting on an intraday move to test supports @ 18342 for the Sensex and 5528 for the Nifty. Hold a scrip specific view…
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Market View for Monday 06 Sep 2010
Index Levels
BSE Sensex 18221.43 NSE Nifty 5479.40
Major Support 17819 – 17373 Major Support 5348 – 5339
Major Resistance 18355 – 18454 – 18475 Major Resistance 5513 – 5549
View
The indices closed the week with a spinning top formation on candlestick charts. A good sign was the supports taken by the indices on Tuesday @ 17819 levels for the Sensex and 5348 for the Nifty. The indices saw a good bounce back to stay within the short term trading range. For the coming week the indices are expected to stay between a range of 18475 and 17819 for the Sensex and 5348 and 5549 for the Nifty. Between these levels stocks would display scrip specific moves. This is a time for waiting for opportunities, selecting the best ones to go ahead and trade. Hold a scrip specific view…
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Market View for Friday 03 Sep 2010
Index Levels
BSE Sensex 18238.31 NSE Nifty 5486.15
Major Support 18215 – 18027 – 17819 Major Support 5471 – 5437 – 5403
Major Resistance 18355 Major Resistance 5513
View
The indices start strong but by the end of the trading session fail to sustain and give all the gains. The close was in the green but near where they had opened with a marginal gain. The highs made would be crucial resistance levels. These need to be watched @ 18355 for the Sensex and 5513 for the Nifty. On the lower supports come in @ 18215 for the Sensex and 5471 for the Nifty. These are immediate supports. The markets today are expected to remain more of sideways. Hold a Scrip specific view…
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Market View for Wednesday 01 Sep 2010
Index Levels
BSE Sensex 17971.12 NSE Nifty 5402.40
Major Support 17819 – 17667 – 17536 Major Support 5348 – 5297 – 5242
Major Resistance 18015 – 18216 Major Resistance 5413 – 5469
View
The indices bounce back from lows in late trade. The bounce back was sharp even though index heavyweight Reliance continued to fall. 18 stocks out of the 50 traded in the Nifty managed to trade in the green. The lows formed during the session are important supports which need to be watched throughout the week. These supports come in for the Sensex @ 17819 and for the Nifty @ 5348 levels. If these supports are broken then the indices could get into a short term correction which could deepen further. On the higher side resistance comes in @ 18015 for the Sensex and 5413 for the Nifty. Choppy sessions could continue as market players to juggle to stay afloat. Hold a Scrip Specific View...
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Market View for Tuesday 31 Aug 2010
Index Levels
BSE Sensex 18032.11 NSE Nifty 5415.45
Major Support 17960 – 17944 – 17914 – 17838 Major Support 5390 – 5372 – 5349
Major Resistance 18216 – 18248 Major Resistance 5469 – 5495
View
The indices continued to move in the same way as lately – indecisive and dull. The closing was with a spinning top pattern on candlestick charts. For the Sensex going forward resistance would come in @ 18216 and for the Nifty @ 5469 levels. On the lower side supports come in @ 17960 and 5390 for the Sensex and the Nifty respectively. Weakness would remain in the markets. Intraday upside corrections cannot be denied. Gap up or gap down openings could see increase in the choppy trade. Hold a Low Profile….
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Market View for Monday 30 Aug 2010
Index Levels
BSE Sensex 17998.41 NSE Nifty 5408.70
Major Support 17944 – 17914 – 17838 Major Support 5391 – 5372 – 5349
Major Resistance 18102 – 18248 Major Resistance 5449 – 5495
View
The indices continue the correction mode. On the medium term view the indices seem to be heading for a short term correction. As of Monday the Sensex has a support @ 17944 and Nifty has it @ 5391. These are immediate supports for the indices. On the higher side the resistance should be watched @ 18102 for the Sensex and 5449 for the Nifty. Hold a Low Profile as of now…
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Market View for Friday 27 Aug 2010
Index Levels
BSE Sensex 18226.35 NSE Nifty 5477.90
Major Support 18159 – 17997 – 17914 Major Support 5454 – 5397 – 5372
Major Resistance 18261 – 18312 – 18451 Major Resistance 5486 – 5506 – 5547
View
The indices closed with an indecisive pattern today. Tomorrow is the last day for the week and the day could remain dull. For the Sensex support comes in @ 18159 and for the Nifty @ 5454 levels. On the higher side resistance comes in @ 18261 and 5486 for the Sensex and the Nifty. Nothing much to write on the markets as of now therefore lets take a view on the markets based on tomorrows closing. Hold a Scrip Specific view…
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Market View for Wednesday 25 Aug 2010
Index Levels
BSE Sensex 18311.59 NSE Nifty 5505.10
Major Support 18260 – 18162 – 18067 Major Support 5488 – 5478 – 5447
Major Resistance 18451 – 18475 Major Resistance 5547 – 5549
View
The indices give way after two days of indecisive trade. The August contracts had started off at 5408 one month back. The expiry is scheduled for the coming Thursday. This could bring a bit of dullness in the markets as the indices get caught in the fight between the call and put writers. Individual stocks will dazzle during this period and one needs to be watchful for those opportunities. For levels 18451 for the Sensex and 5547 for the Nifty are immediate resistance levels. On the lower side supports come in @ 18260 and 5488 for the Sensex and the Nifty. Hold a Scrip Specific View…
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Market View for Tuesday 24 Aug 2010
Index Levels
BSE Sensex 18409.35 NSE Nifty 5543.50
Major Support 18371 – 18276 Major Support 5519 – 5478
Major Resistance 18475 – 18895 Major Resistance 5549 – 5705
View
Two continuous days of indecisive trading in the markets keeping the indices at bay. Above the support levels the indices would remain with a positive bias. At current levels as the markets miss triggers they are expected to remain dull with individual stocks displaying spikes. Sensex has a support @ 18371 and Nifty has it @ 5519. On the higher side resistance comes in @ 18475 for the Sensex and 5549 for the Nifty. Hold a scrip specific view…
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Market View for Monday 23 Aug 2010
Index Levels
BSE Sensex 18401.82 NSE Nifty 5530.65
Major Support 18169 – 17997 – 17868 Major Support 5452 – 5397 – 5349
Major Resistance 18475 – 18895 – 19965 Major Resistance 5546 – 5705 – 5957
View
Last week the market participation remained low but the indices managed to close on a bullish note. It was a week after many which saw the indices breaking the clutches of resistance. These levels had become physcological barriers with the indices finding it tough to cross for the last two years. The close above these levels in the last week not only means that the markets finally managed to overcome these sentimental barriers but also proved again its strength by outperforming all the global markets. As the indices trade above these levels there is one situation which they still have to overcome and that is the participation. The markets now need to be able to pull in the investors who could take the indices to all time high levels which would also be the next targets for the indices. The last one year has been very skeptical with the investors being scared of the levels every time the indices made new highs. Today in 2010 an advantage which India has and which would be able to help our markets even if domestic investors continue to remain skeptical is that global markets continue to remain under pressure and this could prove to be a big opportunity as the global money would find its way to the snake charmer country. As for levels the Sensex has a support @ 18169 – 18868 and Nifty has it @ 5452 – 5349 levels. Above these levels the indices are expected to remain strong. Only below these levels the view on the markets will change. But till that time lets wear our bull horns on our heads and remain watchful for opportunities. On the higher side the ultimate target where a review for the next move would be taken is the all time high. In between the indices do have smaller resistances coming in but those could be looked as levels of trader’s nightmare. For now stay long. Don’t forget the view has to be scrip specific and all positions need to have a stop loss. Because all battles are fought with a risk management plan in place therefore do not forget to carry your shield along with the sword onto the battle field. ENJOY THE SUNNY DAYS AHEAD…
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Market View for Thursday 19 Aug 2010
Index Levels
BSE Sensex 18257.12 NSE Nifty 5479.15
Major Support 18162 – 18067 Major Support 5447 – 5416
Major Resistance 18286 – 18309 Major Resistance 5488 – 5492
View
The indices start flat to end the day with a spark. Short covering helped the market for sure. Now if tomorrow the indices manage to cross the recent highs and trade above it then that could prove the strength of the Indian indices. That could also mean that the Indian indices have broken itself from the rest of the global markets. So the day could decide whether India is now a market to reckon. Watch immediate and major resistance @ 18286 – 18309 for the Sensex and Nifty has it @ 5488 – 5492. Watch these levels closely. Hold a scrip specific view….
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Market View for Wednesday 18 Aug 2010
Index Levels
BSE Sensex 18048.85 NSE Nifty 5414.15
Major Support 18026 – 17997 – 17914 Major Support 5408 – 5397 – 5372
Major Resistance 18140 – 18203 – 18309 Major Resistance 5443 – 5465 – 5492
View
The dull trade continues again. This kind of trade could continue till the expiry of August contracts. In such dull markets the chances of market players getting scared are high and therefore it is advisable to keep a close watch on crucial supports which have been holding the markets afloat. The higher side would continue to remain capped as the flow of new money is not expected to remain constant for continuous days. Levels to be watched for today are 18026 for the Sensex and 5408 for the Nifty, these levels will provide supports for the day. On the higher side the indices may face resistance @ 18140 and 5443 for the two indices respectively. Hold a Scrip Specific View…
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Market View for Tuesday 17 Aug 2010
Index Levels
BSE Sensex 18050.78 NSE Nifty 5418.30
Major Support 17997 – 17914 – 17838 Major Support 5397 – 5372 – 5349
Major Resistance 18203 – 18309 – 18496 Major Resistance 5465 – 5492 – 5545
View
The indices continued their dull streak to close down in the red. Indecisive mood is expected to continue for a while now. As of levels watch support @ 17997 for the Sensex and 5397 for the Nifty. On the higher side resistance comes in @ 18203 and 5465 for the Sensex and the Nifty respectively. Hold a Scrip Specific view…
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Market View for Monday 16 Aug 2010
Index Levels
BSE Sensex 18167.03 NSE Nifty 5452.10
Major Support 17914 – 17838 Major Support 5372 – 5349
Major Resistance 18309 – 18496 – 18895 Major Resistance 5492 – 5545 – 5705
View
The indices continued to remain indecisive for another week. As mentioned earlier too this all because of the lack of triggers on the domestic and global front. The markets seem to have facing a freeze on all the fronts. Such formations cause a lot of debates raising discussing the direction of the markets and in such a phase it is important for an investor to stay with the charts because they are formed on facts. Talking about stories is easier then predicting and when you are an investor you should not be attracted towards unnecessary discussions as their end result is nothing but confusion. You need to understand that they do not make money for you. So stay with facts and less on discussions. Coming back to levels. For the Sensex support comes in @ 17914 – 17838 and for the Nifty @ 5372 – 5349 levels. On the higher side resistance comes in @ 18309 for the Sensex and 5492 for the Nifty. These are levels between which the indices have been caught for the last 4 weeks. Till the time the indices do not give a breakout the movement should continue range bound and dull. Scrip specific action is expected to continue. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Friday 13 Aug 2010
Index Levels
BSE Sensex 18073.90 NSE Nifty 5416.45
Major Support 17972 – 17911 – 17838 Major Support 5372 – 5369
Major Resistance 18113 – 18177 – 18263 Major Resistance 5431 – 5460 – 5474
View
The markets opened with a gap down opening finally managing to end the day near where they had closed on the earlier closing. The end of the day pattern formation on the price was an indecisive pattern called ‘Doji’. For today the indices are expected to open flat and then trade as yesterday. Sensex has a support @ 17972 and Nifty has it @ 5372. On the higher side resistance comes in @ 18113 and 5431 for the Sensex and the Nifty respectively. Hold a Low Profile…
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Market View for Thursday 12 Aug 2010
Index Levels
BSE Sensex 18070.19 NSE Nifty 5420.60
Major Support 18042 – 17911 – 17838 Major Support 5412 – 5400 – 5369 – 5347
Major Resistance 18177 – 18263 Major Resistance 5460 – 5474
View
The indices correct in dull trade which lacked triggers. Government is busy solving problems created by itself over the last so many years. The correction is expected to deepen further for the immediate short term. This can take the markets down to test supports @ 17911 – 17838 for the Sensex and 5369 – 5347 for the Nifty. The higher side could be capped for now with resistance coming in @ 18177 – 18263 for the Sensex and 5460 – 5474 for the Nifty. The current formations of the markets suggest that one should hold a low profile and a wait and watch approach till some clear signals are generated by stocks or the index.
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Market View for Wednesday 11 Aug 2010
Index Levels
BSE Sensex 18219.99 NSE Nifty 5460.70
Major Support 18170 – 18118 Major Support 5445 – 5431 – 5428
Major Resistance 18293 – 18309 – 18496 Major Resistance 5492 – 5545 – 5705
View
As expected the indices remained indecisive with the trade remaining range bound throughout the day. At these levels such a trade should be expected as normal as the market players keep searching for triggers on the global as well as domestic front. Sensex has a support @ 18170 and Nifty has it @ 5445 levels. On the higher side resistance comes in @ 18293 and 5492 for the Sensex and the Nifty respectively. Hold a Low Profile…
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Market View for Tuesday 10 Aug 2010
Index Levels
BSE Sensex 18287.50 NSE Nifty 5486.15
Major Support 18141 – 18118 Major Support 5439 – 5431
Major Resistance 18309 – 18496 – 18895 Major Resistance 5492 – 5545 – 5705
View
The markets give a big thumbs up. It was a show of strength for the overall markets with the indices closing at the highest level in the last one year. Going ahead the indices would continue to have good undercurrent coming in but the highs could be restricted. Indecisive mood is expected to continue for some more days as the domestic as well as the global markets continue to lack triggers. As for levels the Sensex has a support @ 18141 and Nifty has it @ 5439 levels. On the higher side resistance comes in @ 18309 and 5492 for the Sensex and the Nifty respectively. As of now it is advisable to hold a low profile. This view should hold till stocks display some good formations on chart.
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Market View for Monday 09 Aug 2010
Index Levels
BSE Sensex 18143.99 NSE Nifty 5439.25
Major Support 17911 – 17838 – 17653 Major Support 5349 – 5294 – 5210
Major Resistance 18295 – 18496 – 18895 Major Resistance 5487 – 5545 – 5705
View
On weekly charts the indices have consolidated for the last 3 weeks. This mainly is due to the indecisive mood which lacks triggers on the domestic as well as global front to make the markets move. The global markets too are trading in the same way. This indecisive mood has a support for the Sensex @ 17911 and for the Nifty @ 5349 levels. On the higher side the resistance from this indecisive phase would be 18295 and 5487 for the Sensex and the Nifty respectively. As the week starts on dull note investors are advised to hold a low profile. Wait for the right opportunity to jump in the markets. Till then enjoy…
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Market View for Friday 06 Aug 2010
Index Levels
BSE Sensex 18172.83 NSE Nifty 5447.10
Major Support 18156 – 18093 – 18072 Major Support 5428 – 5400 – 5369
Major Resistance 18234 – 18295 – 18340 Major Resistance 5470 – 5487 – 5545
View
The indices traded flat throughout the day to finally give way to the sellers to win the markets. The crack was in the last 30 minutes which eroded most of the gains for the earlier day. Going into trade now the indices will face resistance @ 18234 for the Sensex and 5470 for the Nifty. On the lower side support comes in @ 18156 for the Sensex and 5428 for the Nifty. These are immediate supports. In the present condition these supports if broken will take the indices down back to test supports. As of now with lack of triggers and global indecisive mood ruling over the rest of the sentiments the markets should stay in a range. Hold a Scrip Specific View…
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Market View for Thursday 05 Aug 2010
Index Levels
BSE Sensex 18217.44 NSE Nifty 5467.85
Major Support 18115 – 17911 – 17838 Major Support 5441 – 5428
Major Resistance 18249 – 18340 – 18496 Major Resistance 5482 – 5545
View
The indices manage to close near resistances coming in from recent highs. The overall bias would remain positive as the indices manage to cross these resistance levels to register a new short term high. Going forward with supports @ 18115 and 5441 for the Sensex and the Nifty should be able to hold on and move. On the higher side the resistance comes in @ 18340 for the Sensex and 5482. These are immediate resistance levels. These once crossed could see the indices moving fast. Hold a scrip specific view.
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Market View for Tuesday 03 Aug 2010
Index Levels
BSE Sensex 18081.21 NSE Nifty 5431.65
Major Support 17911 – 17838 Major Support 5400 – 5369 – 5349
Major Resistance 18104 – 18237 Major Resistance 5438 – 5477
View
The indices bounce back from supports. This marks the levels from where the indices bounced to be good supports for the short term. Now going ahead the indices have a testing time as they reach back to the resistance or the recent tops. These levels are going to act as resistances. These levels come in @ 18237 for the Sensex and 5477 for the Nifty. On the lower side supports come in @ 17911 for the Sensex and 5400 for the Nifty. Hold a scrip specific view…
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Market View for Monday 02 Aug 2010
Index Levels
BSE Sensex 17868.29 NSE Nifty 5367.60
Major Support 17838 – 17473 – 17373 Major Support 5349 – 5294 – 5210
Major Resistance 18056 – 18194 – 18237 Major Resistance 5407 – 5466 – 5477
View
The indices make a higher top before taking a breather. This formation is good for the markets but for the short term it could signal the start of a short term correction. If this continues then a correction of 3 to 5% cannot be denied. During this period scrip specific movement is expected to continue but the sentiment could get dull as the markets would lack triggers. For the Sensex resistance should be watched @ 18056 – 18194 and for the Nifty @ 5407 – 5466 levels. These levels will need a lot of money flow for the Sensex to break them. As of now with the current formation one needs to watch the support levels closely. Sensex has a support @ 17838 and Nifty has it @ 5349 levels. These are immediate supports which if broken will see the indices crack down to 17373 and 5210 levels for the two indices respectively. Hold a Scrip Specific View…
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Market View for Friday 30 Jul 2010
Index Levels
BSE Sensex 17992.00 NSE Nifty 5408.90
Major Support 17902 – 17848 Major Support 5381 – 5372 – 5353
Major Resistance 18013 – 18149 – 18194 Major Resistance 5415 – 5450 – 5466
View
The indices continued to trade flat as the July derivative contracts expired. At current levels the participation as reduced as the markets fail to bring in cheer. Being the last day of the week could be another day like so many past days. Only if the markets display some action then we could come across some sizzling moves going ahead. Scrip specific action though in small numbers is expected to stay alive. Support for the day for the Sensex comes in @ 17902 and for the Nifty @ 5381 levels. On the higher side resistance comes in @ 18013 for the Sensex and 5415 for the Nifty. Hold a scrip specific view…
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Market View for Wednesday 28 Jul 2010
Index Levels
BSE Sensex 18077.61 NSE Nifty 5430.60
Major Support 17998 – 17993 – 17848 Major Support 5407 – 5372 – 5353
Major Resistance 18149 – 18194 – 18237 Major Resistance 5450 – 5466 – 5477
View
The indices opened flat and traded range bound throughout the day. For today watch support for the indices coming in @ 17998 for the Sensex and 5407 for the Nifty. On the higher side resistance comes in @ 18149 for the Sensex and 5450 for the Nifty. Tomorrow the July contracts expire therefore till expiry the indices are expected to trade flat. Hold a scrip specific view…
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Market View for Tuesday 27 Jul 2010
Index Levels
BSE Sensex 18020.05 NSE Nifty 5418.60
Major Support 17993 – 17848 Major Support 5409 – 5372 – 5353
Major Resistance 18194 – 18237 Major Resistance 5446 – 5466 – 5477
View
The indices opened flat and remained sideways before ending the day in the red. It was a dull day with some scrips witnessing selling coming in. Over all on the candlestick charts the closing has been indecisive. For the day watch supports coming in @ 17993 for the Sensex and 5409 for the Nifty. On the higher side resistance comes in @ 18194 for the Sensex and 5446 for the Nifty. The indices are expected to hold on to these supports. Hold a scrip specific view…
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Market View for Monday 26 Jul 2010
Index Levels
BSE Sensex 18130.98 NSE Nifty 5449.10
Major Support 18022 – 17848 Major Support 5392 – 5353
Major Resistance 18237 – 18340 – 18496 – 18895 Major Resistance 5477 – 5545 – 5630
View
The last two days of the week witnessed a bull charge. Coming week would be crucial as the July contracts expire on Thursday the 29th. The pattern formation on the charts which was witnessed in the first week of July has a target of 5630 for the Nifty. The indices have been heading towards that target. The only thing which we need to watch now is whether the indices manage to achieve the target in the July contract itself. Market players need to know that this would be possible only if the indices witness short covering along with fresh longs been created. Let’s hope for the best. As of levels for the coming week supports should be watched @ 18022 for the Sensex and 5392 for the Nifty. These are immediate supports and bulls will reign if the indices manage to survive these levels. On the higher side indices are expected to test levels of 18496 – 18895 for the Sensex and 5545 – 5630 for the Nifty. The current view would change only if the indices fail to take support and in such a case we would take an immediate review on the markets in our daily newsletter on that respective day. Hold a scrip specific view…
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Market View for Friday 23 Jul 2010
Index Levels
BSE Sensex 18113.15 NSE Nifty 5441.95
Major Support 17978 – 17879 Major Support 5399 – 5372
Major Resistance 18128 – 18167 – 18340 Major Resistance 5453 – 5545
View
Six days of consolidation finally ends with a breakout today with the Sensex and the Nifty closing above this level. With this pattern now the indices ideally should not have problems in moving forward. The July Contracts expire in the coming 5 trading sessions. The current pattern in combination with the expiry should help the indices move up further not only because of bulls coming in with new positions but also due to the players who are holding short positions. They are expected to come in to cover their positions helping the markets rally upwards. As for levels watch supports for the Sensex @ 17978 and for the Nifty @ 5399 levels. Above these levels the indices will remain in hands of bulls. On the higher side they could head for 18340 for the Sensex and 5545 for the Nifty. Hold a scrip specific view. Time to stay bullish with stop losses below crucial supports…
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Market View for Thursday 22 Jul 2010
Index Levels
BSE Sensex 17977.23 NSE Nifty 5399.35
Major Support 17873 – 17848 Major Support 5368 – 5353
Major Resistance 18012 – 18040 – 18167 Major Resistance 5409 – 5416 – 5453
View
The indecisive mood continues as the July contracts are set to expire in the coming 6 trading days. The movement for the indices in the last 6 trading days has been very range bound approximately half a percent. During this period scrip specific action has been predominant in the markets and therefore this narrow range for the indices should not be a mood dampener for the market players. For the day watch resistance for the Sensex @ 18012 and for the Nifty @ 5409 levels. On the lower side support comes in @ 17873 and 5368 for the Sensex and the Nifty respectively. With a view of indecisive mood it is advised that markets players hold a low profile…
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Market View for Wednesday 21 Jul 2010
Index Levels
BSE Sensex 17878.14 NSE Nifty 5368.00
Major Support 17848 – 17667 Major Support 5353 – 5324 – 5297
Major Resistance 18040 – 18167 Major Resistance 5416 – 5453
View
The indices traded range bound for the 5thday in a row. The pattern formations on candlesticks are all spinning top formations which suggest indecisive mood on part of market players. The July contract has been more than 50% of the days till now traded in indecisive mood. The premiums quoted for the calls and puts are minimum at approximately 1% suggesting that this contract month may not see any action at all. For today watch resistance for the Sensex @ 18040 and for the Nifty @ 5416. On the lower side supports come in @ 17848 and 5353 for the Sensex and the Nifty respectively. Hold a Low Profile…
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Market View for Tuesday 20 Jul 2010
Index Levels
BSE Sensex 17928.42 NSE Nifty 5386.45
Major Support 17856 – 17667 Major Support 5361 – 5324 – 5297
Major Resistance 18005 – 18167 Major Resistance 5409 – 5453
View
Fourth day of consolidation as the indices trade range bound and choppy to end the session approximately where they started the trade. At current levels it is important for all market players to watch the support and resistance levels closely. For today watch resistance for the Sensex @ 18005 and for the Nifty @ 5409. On the lower side support comes in @ 17856 for the Sensex and 5361 for the Nifty. Wait for a breakout either above or below these levels. Hold a Low Profile…
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Market View for Monday 19 Jul 2010
Index Levels
BSE Sensex 17955.82 NSE Nifty 5393.90
Major Support 17855 – 17653 – 17473 – 17395 Major Support 5352 – 5294 – 5237 – 5210
Major Resistance 18167 – 18314 – 18496 – 18895 Major Resistance 5453 – 5545
View
Last week closed on an indecisive mood with the indices selling off as they tried to move above the crucial 18000 level for the Sensex. This level has now become a sentimental barrier for the market players as they witness fights of bulls and bears. The July contracts expire in the coming two weeks and the rollover / square off of the positions held in this contract could decide the direction of the markets. If we look at the global markets then they too have closed on an indecisive note. The only positive point to be noted in the patterns created by the global markets is that they have managed to survive the supports. The comparison between the global markets and the Indian bourses clearly suggests that the Indian markets have shown strength in the last few weeks and it seems like the World’s Problems are India’s Opportunity in the true sense. The only factor which can keep the markets in trouble is the levels which we have mentioned as an important sentimental barrier. For the coming week watch resistance @ 18167 for the Sensex and 5453 for the Nifty. On the lower side supports come in @ 17855 and 5352 for the Sensex and the Nifty. These levels will also act as trend decider levels for the next week. Till the time the indices do not break down below the supports market players need not worry for their long positions. If the levels are breached either on the upside or on the downside then we would b e taking a review immediately. AS OF NOW HOLD A SCRIP SPECIFIC VIEW…
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Market View for Friday 16 Jul 2010
Index Levels
BSE Sensex 17909.46 NSE Nifty 5378.75
Major Support 17855 – 17667 Major Support 5357 – 5297
Major Resistance 17978 – 18047 – 18167 Major Resistance 5399 – 5453 – 5545
View
The indices trade choppy as they moved up and down again witnessing fights between bulls and bears to take control over the markets. The last two days have been indecisive for the markets. Today being the last day of the week could continue to remain dull with low volumes and cautious participation from market players. For the day watch resistance @ 17978 for the Sensex and 5399 for the Nifty. On the lower side supports come in @ 17855 for the Sensex and 5357 for the Nifty. Hold a Low Profile…
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Market View for Thursday 15 Jul 2010
Index Levels
BSE Sensex 17938.16 NSE Nifty 5386.15
Major Support 17897 – 17855 – 17667 Major Support 5371 – 5357 – 5297
Major Resistance 18047 – 18167 – 18314 Major Resistance 5406 – 5453 – 5545
View
The indices started the day on a strong note but as the day progressed the buyers strength fizzled out witnessing the indices correcting and closing in the red. These levels are heart breaker levels for the Bulls as well as the Bears as both the sentiments continue to fight to be a winner. The direction which the winner decides will rule the move for the markets atleast till the expiry of July contracts. As for levels watch resistance @ 18047 – 18167 for the Sensex and 5406 – 5453 for the Nifty. These levels need to be watched closely by the players who hold short positions because if they are broken then covering up their positions would be only option. At the same time players who hold longs should be watching supports which when broken would force them square off. These supports come in @ 17897 – 17855 for the Sensex and 5371 – 5357 for the Nifty. For players who do not hold positions should wait and watch for the markets to decide a direction before they jump on to the bus. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Tuesday 13 Jul 2010
Index Levels
BSE Sensex 17937.20 NSE Nifty 5383.00
Major Support 17875 – 17750 – 17667 Major Support 5352 – 5325 – 5297
Major Resistance 18010 – 18047 Major Resistance 5399 – 5402
View
The markets continued to move up in the pattern which is identical if seen for the last 10 days. The indices open with a gap and then trade at those levels throughout the day. Same happens when they open with a gap down opening. These patterns suggest that it is traders more than investors who are in control of the markets. At the same time there is scrip specific action which continues without the notice of the trader. The indices have reached a level of fear as they have reached the recent highs. The markets are full of fear and traders at this point in time are more interested in entering short positions than the longs. Therefore it is now a catch 22 situation for the bulls as well as the bears. For intelligent market players it is a time to stay watchful and keep a close eye on the resistance and the support levels. For today watch resistance for the Sensex @ 18010 – 18047 and for the Nifty @ 5402. On the lower side supports should be watched @ 17875 and 5352 for the Sensex and the Nifty respectively. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Monday 12 Jul 2010
Index Levels
BSE Sensex 17833.54 NSE Nifty 5352.45
Major Support 17653 – 17395 – 17373 Major Support 5294 – 5210 – 5120
Major Resistance 17857 – 17919 – 18047 Major Resistance 5359 – 5399
View
The July contracts started off on indecisive note but last week managed to move into a bullish mode. There has been a lot of speculation of the direction of the markets recently which can be clearly observed from the bull and bear fights. The Indian indices have outperformed the rest of the global markets during the last 2 months. They are trading near recent highs which also coincide to be a major resistance for the last one year. This time with lot of speculation and stiff fights between bulls and bears the indices should manage to move up breaking past these resistance levels heading for the all time high levels. Watch the resistance @ 18047 for the Sensex and 5399 for the Nifty. On the lower side supports come in @ 17395 for the Sensex and 5210 for the Nifty. Above these levels the bulls are set to win till the July contracts expire. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Friday 09 Jul 2010
Index Levels
BSE Sensex 17651.73 NSE Nifty 5296.85
Major Support 17536 – 17402 Major Support 5269 – 5242 – 5210
Major Resistance 17728 – 17794 – 17919 Major Resistance 5320 – 5339 – 5366
View
The indices continue to trade range bound as bulls and bears try to overpower each other. The direction which the markets are expected to decide after the breakout should help them move sharp and clearly later. For now watch resistance for the Sensex @ 17728 and for the Nifty @ 5320. On the lower side support comes in @ 17536 for the Sensex and 5269 for the Nifty. Hold a scrip specific view.
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Market View for Thursday 08 Jul 2010
Index Levels
BSE Sensex 17471.03 NSE Nifty 5241.10
Major Support 17447 – 17395 – 17373 Major Support 5252 – 5210
Major Resistance 17623 – 17643 – 17794 – 17919 Major Resistance 5297 – 5339 – 5366
View
The markets sold off again to continue their consolidation further. The last 13 days have seen the Nifty trade range bound between a 100 to 150 point narrow range. This too on the start of a new contract. Therefore I think the positions of longs and shorts both are extremely tight and aggressively held in the markets as of now. A breakout above or below these levels to decide the further course of action which I think should be a big one. Till then hold a low profile…
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Market View for Wednesday 07 Jul 2010
Index Levels
BSE Sensex 17614.48 NSE Nifty 5289.05
Major Support 17508 – 17402 Major Support 5262 – 5236
Major Resistance 17643 – 17794 – 17919 Major Resistance 5297 – 5339 – 5366
View
The markets start off after the bharat bandh on a strong note and a big thumbs up with the participants rejoicing longs. This mood if continues further would ensure that the shorts are stuck miserably and would have a spiraling effect taking the indices rushing towards higher levels. For this to happen the indices need to cross resistances @ 17643 for the Sensex and 5297 for the Nifty. On the lower side supports which would keep positive vibes alive in the markets exists @ 17508 and 5262 for the Sensex and the Nifty. Hold a Scrip Specific View…
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Market View for Tuesday 06 Jul 2010
Index Levels
BSE Sensex 17441.44 NSE Nifty 5235.90
Major Support 17373 – 17249 – 17118 Major Support 5225 – 5210 – 5171
Major Resistance 17505 – 17598 – 17679 Major Resistance 5252 – 5277 – 5312
View
The Bharat Bandh had an effect on the markets as offices remained closed and India was brought to a standstill. The only one who could dare this bandh was the Stock Markets. Though they traded with low volumes then also there were a bunch of speculators trying their luck. The closing on the indices was indecisive. For today watch resistance @ 17505 – 17598 for the Sensex and 5252 – 5277 for the Nifty. On the lower side supports come in @ 17373 – 17249 for the Sensex and 5225 – 5210 for the Nifty. Till the time these supports are not broken there is no need to worry. The surprises in the market could end on a crackdown below these levels. For the day keep a close watch on these levels mentioned above. Hold a Scrip Specific View…
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Market View for Friday 02 Jul 2010
Index Levels
BSE Sensex 17509.33 NSE Nifty 5251.40
Major Support 17455 – 17373 Major Support 5232 – 5210
Major Resistance 17679 – 17777 – 17845 – 17919 Major Resistance 5281 – 5312 – 5348 – 5366
View
The indices stayed range bound amidst a choppy session which saw the markets move up and down finally closing in the red. One good thing which can be observed on the charts for the last 3 trading sessions is the support which is coming in at the lower levels. This move if compared with the global counterparts is also impressive as by now the global markets have melted but India continues to hold its ground. This itself shows the strength in our markets and confidence shown by the global players / investors in India. As for levels for today watch supports @ 17455 for the Sensex and 5232 for the Nifty. On the higher side resistance comes in @ 17679 and 5312 for the Sensex and the Nifty. Individual stocks will continue to show dazzling moves therefore HOLD A SCRIP SPECIFIC VIEW…
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Market View for Thursday 01 Jul 2010
Index Levels
BSE Sensex 17700.90 NSE Nifty 5312.50
Major Support 17588 – 17476 – 17373 Major Support 5283 – 5254 – 5210
Major Resistance 17777 – 17845 – 17919 Major Resistance 5333 – 5348 – 5366
View
The markets opened lower but moved up sharply displaying strong undercurrent to close the day in the green and eating up more than half of the shorts created on Tuesday. For today watch supports @ 17588 for the Sensex and 5283 for the Nifty. Above these levels the indices would stay strong and continue their move up to test higher resistance levels. On the higher side as the indices move they could face tough resistance coming in from the recent highs @ 17919 for the Sensex and 5366 for the Nifty. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Wednesday 30 Jun 2010
Index Levels
BSE Sensex 17534.09 NSE Nifty 5256.15
Major Support 17465 – 17394 – 17249 Major Support 5235 – 5206 – 5171
Major Resistance 17656 – 17777 Major Resistance 5294 – 5333
View
The markets sell off as the foreign institutions are brought under transparency norms by SEBI. Markets always react in a way which is never understandable at the first glimpse. Something which is good for the market makes them fall this is something which is as illogical and I think therefore this place is called the stock market. This should be a temporary spill off reaction of this news item which flowed in during market hours yesterday. Stock specific still remains good. As for levels for today watch resistance for the Sensex @ 17656 and for the Nifty @ 5294. On the lower side immediate supports come in @ 17465 for the Sensex and 5235 for the Nifty. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Friday 25 Jun 2010
Index Levels
BSE Sensex 17730.24 NSE Nifty 5320.60
Major Support 17632 – 17525 – 17394 Major Support 5284 – 5266 – 5245
Major Resistance 17845 – 17868 – 17919 – 17995 Major Resistance 5348 – 5353 – 5366 – 5382
View
June Derivative contracts expired on a choppy note. The closing for the indices was indecisive with Doji pattern formations on candlesticks on both the Sensex and the Nifty. The markets opened with a gap up opening but failed to sustain witnessing selling coming in to take the markets deep in the red by noon hours. And it did not end here the markets witnessed buying coming as traders ran for shelter scattered everywhere running directionless making the indices bounce back to close near where they had opened. In all the day was an action full day. The last day of the week could be important as the indices possibly could see themselves in a one sided direction. For the Sensex resistance comes in @ 17845 and for the Nifty it exists @ 5348 levels. On the lower side support comes in @ 17632 and 5284 for the Sensex and the Nifty. Watch these levels as trend deciders for the day. Hold a Low Profile…
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Market View for Thursday 24 Jun 2010
Index Levels
BSE Sensex 17755.94 NSE Nifty 5323.15
Major Support 17629 – 17525 – 17394 Major Support 5288 – 5266 – 5245
Major Resistance 17782 – 17868 – 17919 – 17995 Major Resistance 5333 – 5353 – 5366 – 5382
View
June derivative contracts expire today. Expect the markets to be volatile as they buck the sentiments of bears and bulls. Yesterday the indices closed forming spinning top patterns which are signs of indecision. For today watch resistance coming @ 17782 for the Sensex and 5333 for the Nifty. On the lower side supports come in @ 17629 and 5288 for the Sensex and the Nifty respectively. The formations suggest holding a scrip specific view in the markets as of now.
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Market View for Wednesday 23 Jun 2010
Index Levels
BSE Sensex 17749.69 NSE Nifty 5316.55
Major Support 17725 – 17654 – 17525 Major Support 5311 – 5266 – 5245
Major Resistance 17868 – 17919 – 17995 – 18047 Major Resistance 5353 – 5366 – 5382 – 5399
View
The indices take a breather after a straight rally upwards for the last two weeks. The June contracts expire tomorrow and the roll over by now has been completed therefore we may see the indices cooling off a bit before starting a new move. For the day watch immediate support @ 17725 for the Sensex and 5311 for the Nifty. If these levels are broken the indices could correct further. On the higher side as mentioned yesterday major resistance could come in from the recent highs made by the indices @ 17995 – 18047 for the Sensex and 5382 – 5399 for the Nifty. Hold a Scrip Specific View…
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Market View for Tuesday 22 Jun 2010
Index Levels
BSE Sensex 17876.55 NSE Nifty 5353.30
Major Support 17765 – 17654 Major Support 5309 – 5266
Major Resistance 17919 – 17995 – 18047 Major Resistance 5366 – 5382 – 5399
View
The indices move up with a big thumbs up. The indices opened with a gap up opening and continued to trade in the positive throughout the day. Now the indices have come very close to the earlier highs which could prove to be tough resistances for the markets as they move up further. The next resistances come in @ 17995 – 18047 for the Sensex and 5382 – 5399 for the Nifty. The bull charge in the markets is not only contributed by the genuine bulls but a major contributor is the shorts which I have been mentioning for the last two weeks in the markets. This short covering could also take the indices beyond these resistances because to cover up mistakes a market player is ready to pay any price. On the lower side supports come in @ 17765 for the Sensex and 5309 for the Nifty. A gap up opening tomorrow again would prove to be a market spoiler. Hold a Scrip Specific View…
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Market View for Monday 21 Jun 2010
Index Levels
BSE Sensex 17570.82 NSE Nifty 5262.60
Major Support 17344 – 17118 Major Support 5191 – 5120
Major Resistance 17721 – 17826 – 18047 – 18520 Major Resistance 5302 – 5342 – 5399 – 5500
View
The markets continued to move up throughout the week leaving all the world market cues and negatives behind them. Let’s not forget also leaving behind the so called analyst’s views who scared the investors away by discussing a lot of negative points on national network. But the truth is it is not only they who are at fault but it is also that idiot investor who is equally at fault the reason is ‘DUE TO FOOLS EVERYWHERE WE ALSO HAVE FOOL MAKERS AROUND’. This again proves that 98% of the players end of on the wrong side. For the coming week market players need to watch crucial supports @ 17344 for the Sensex and 5191 for the Nifty. Above these levels the indices would remain with a positive bias. Choppiness would remain high as the indices continue to move up further. June Contracts expire on 24th June therefore this could bring in a lot of moves in the market. The best strategy to trade the current markets would be to trade with the trend because that is the only friend an investor has being in the stock markets. On the higher side the indices would try to test resistances @ 18047 for the Sensex and 5399 for the Nifty. Based on the Friday closing it seems investments look more favorable then short term trades. Hold a Scrip Specific View…
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Market View for Friday 18 Jun 2010
Index Levels
BSE Sensex 17616.69 NSE Nifty 5274.85
Major Support 17367 – 17118 Major Support 5233 – 5206
Major Resistance 17647 – 17769 – 17826 Major Resistance 5285 – 5295 – 5342
View
The markets witnessed a see saw ride today finally managing to close in green. This is something which is expected to happen with the indices having moved up by 1000 points on the Sensex and approximately 300 points on the Nifty. At these levels the sentiments will be mixed therefore bringing in volatility. The interest is more towards mid and small cap stocks. For the day watch supports @ 17367 for the Sensex and 5233 for the Nifty. On the higher side resistance comes in @ 17647 and 5285 for the Sensex and the Nifty respectively. Hold a Low profile…
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Market View for Thursday 17 Jun 2010
Index Levels
BSE Sensex 17462.87 NSE Nifty 5233.35
Major Support 17407 – 17249 – 17118 Major Support 5214 – 5171 – 5120
Major Resistance 17530 – 17646 – 17769 – 17826 Major Resistance 5255 – 5295 – 5330 – 5342
View
The markets had a choppy trade yesterday as they continued to move up against the will of the players. Shorts are heavily built in the markets as of now. The next few days move is very crucial for the indices. If they continue to hold then the indices would witness short covering as the contract comes to expiry next week. For the day watch support for the indices @ 17407 and 5214 for the Nifty. On the higher side resistance exists @ 17530 and 5255 for the Sensex and the Nifty. Hold a Low profile…
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Market View for Wednesday 16 Jun 2010
Index Levels
BSE Sensex 17412.83 NSE Nifty 5222.35
Major Support 17355 – 17249 – 17118 Major Support 5201 – 5171 – 5120
Major Resistance 17442 – 17646 – 17826 Major Resistance 5231 – 5295 – 5342
View
The indices move up amidst a volatile session. They are now in a short term higher bottom and higher top formation. Watch supports @ 17355 – 17249 for the Sensex and 5201 – 5171 for the Nifty. Above these levels the indices would stay strong. the next levels which the indices will be heading for are 17826 for the Sensex and 5342 for the Nifty. Hold a Scrip Specific view…
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Market View for Tuesday 15 Jun 2010
Index Levels
BSE Sensex 17338.17 NSE Nifty 5197.70
Major Support 17228 – 17118 Major Support 5158 – 5120
Major Resistance 17351 – 17389 – 17536 Major Resistance 5201 – 5212 – 5278
View
As expected and mentioned in yesterdays newsletter the indices traded strong managing to cross immediate resistance levels. One more hurdle comes up as we enter the trade today. This hurdle exists @ 17389 for the Sensex and 5212 for the Nifty. The indices are heading for the higher end of the band of the current consolidation. Supports come in @ 17228 for the Sensex and 5158 for the Nifty. Gap up openings will play spoil sport as there are chances that during such days the indices may buck the trend. FOR NOW CONTINUE WITH LONG POSITIONS.
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Market View for Monday 14 Jun 2010
Index Levels
BSE Sensex 17064.95 NSE Nifty 5119.35
Major Support 16560 – 16318 – 15960 Major Support 4967 – 4786
Major Resistance 17131 – 17150 – 17389 – 17536 Major Resistance 5139 – 5147 – 5212 – 5278
View
The week was volatile amidst a lot of speculation that the markets will fall. If you have been watching business channels then each and every channel was full of such breaking news items with all the so called advisors coming up with a bearish view on the markets. The first half of the week saw the indices correcting and the later half seeing the indices bounce back. For the coming week the indices have a lot to prove because of the bearish buzz in the markets. As we enter the trade for the next week watching the immediate resistances would be important. If these levels are crossed then all the markets players who have entered shorts below 4900 for the Nifty would be forced to average their positions as we know happens with common investors sitting on hopes. And once the resistances @ 17150 – 17389 for the Sensex and 5147 – 5212 for the Nifty are crossed we would have the same traders rushing in the markets to cover their trades. If this fails means if the markets fail to cross the resistance levels then indices would continue their consolidation. On the lower side supports come in @ 16560 for the Sensex and 4967 for the Nifty. In such a scenario it is better to hold a low profile in terms of investing in the markets. But once the resistances are crossed then investors can get into the markets aggressively. No stock picks as of now therefore hold a low profile till further notice. This is not a period to get depressed because of not been able to invest in the markets but it is a time to consolidate and rework of strategies. Practice them because practice makes an investor more and more perfect.
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Market View for Friday 11 Jun 2010
Index Levels
BSE Sensex 16922.08 NSE Nifty 5078.60
Major Support 16795 – 16668 Major Suppot 5039 – 4967
Major Resistance 16942 – 17069 – 17150 Major Resistance 5085 – 5132 – 5148
View
The markets bounce back after three dull days of trade. Along with this the markets also confirm the recent lows of 4967 as good supports for the Nifty and 16668 for the Sensex. With a flat opening the indices should manage to move up further. Only a gap up opening could ruin the mood. As of levels the indices would remain strong as they trade above supports @ 16975 for the Sensex and 5039 for the Nifty. On the higher side the indices would try their luck at 17150 for the Sensex and 5148 for the Nifty. The overall short term mood remains to be bullish. Stay long but with scrip specific view till the time the indices stay above supports. Good time for Precision Technicals family of Technical Analysts to make money in select stocks as the herds in the markets spend time on unnecessary debates. GO AHEAD STAY WITH THE TREND IT IS THE ONLY ONE WHO IS YOUR FRIEND.
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Market View for Thursday 10 Jun 2010
Index Levels
BSE Sensex 16657.89 NSE Nifty 5000.30
Major Support 16591 – 16560 – 16318 Major Support 4980 – 4967 – 4961
Major Resistance 16817 – 16895 – 17069 Major Resistance 5050 – 5071 – 5132
View
The markets traded with strength during the first part of the day but failed to sustain and closing on day end basis was indecision looking at the pattern formed on Candlesticks. With such a formation the next usually is a dull starter because market players lack direction. Scrip specific action will continue with the indices remaining clueless. This could change for the better is the indices find a direction. Market players could watch levels of 16817 and 16591 as resistance and support respectively for the Sensex. A move above or below these levels will mark the direction at least for today’s trading. For Nifty these levels come in @ 5050 and 4980 as resistance and support respectively. Hold a Scrip Specific View…
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Market View for Wednesday 09 Jun 2010
Index Levels
BSE Sensex 16617.10 NSE Nifty 4987.10
Major Support 16560 – 16318 Major Support 4967 – 4961
Major Resistance 16760 – 16895 Major Resistance 5036 – 5071
View
The markets failed to sustain and finally gave up closing a percent below compared to the earlier close. Now at current levels they trade on major supports. Ideally they should be taking support at these levels until and unless something out of the world happens. For today watch these supports come in @ 16560 – 16318 for the Sensex and 4967 – 4961 for the Nifty. With these levels just below the current close the indices should be able to hold on if not bounce back. On the higher side resistance comes in @ 16760 for the Sensex and 5036 for the Nifty. Hold a Scrip Specific View…
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Market View for Tuesday 08 Jun 2010
Index Levels
BSE Sensex 16781.07 NSE Nifty 5034.00
Major Support 16686 – 16574 – 16318 Major Support 5004 – 4970 – 4961
Major Resistance 16925 – 17069 – 17150 Major Resistance 5083 – 5132 – 5147
View
The markets sold off yesterday due to the pressure from the world markets. For today the trend could start more or less flat before the indices decide a direction for the move. If the sell off continues further then major supports should be watched @ 16574 – 16318 for the Sensex and 4970 – 4961 for the Nifty. The fall will surely be arrested at these levels if it continues. If the indices open flat then they are expected to move up and as they do so they could come across a resistance @ 16925 for the Sensex and 5083 for the Nifty. These are immediate ones which when crossed could help bring in short covering triggering a further move in the markets. Hold a Scrip Specific View…
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Market View for Monday 07 Jun 2010
Index Levels
BSE Sensex 17117.69 NSE Nifty 5135.50
Major Support 16872 – 16318 Major Support 5076 – 4961
Major Resistance 17150 – 17389 – 17536 Major Resistance 5148 – 5212 – 5278
View
The markets continued to move up second week in a row. They managed to display strength bucking the trend in the rest of markets in the world. As of now they seem to be heading for the higher side of the band after having tested the lower end of the band at 4800 levels. Major index heavyweights continue remain range bound with spikes been observed amongst a select few of them. Watch supports @ 16872 – 16318 for the Sensex and 5076 – 4961 for the Nifty. On the higher side resistance comes in @ 17389 – 17536 for Sensex and 5212 – 5278 for the Nifty. Hold a Scrip Specific View…
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Market View for Friday 04 Jun 2010
Index Levels
BSE Sensex 17022.33 NSE Nifty 5110.50
Major Support 16904 – 16786 Major Support 5065 – 5020
Major Resistance 17072 – 17130 – 17389 Major Resistance 5125 – 5137 – 5212
View
The markets manage to cross immediate resistances and stay strong throughout the day. The upward move is expected to continue further to test the next level of resistances. Supports come in @ 16904 for the Sensex and 5065 for the Nifty. Above these levels the overall markets would remain strong. Hold a Scrip Specific View…
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Market View for Wednesday 02 Jun 2010
Index Levels
BSE Sensex 16572.03 NSE Nifty 4970.20
Major Support 16318 – 16960 Major Support 4961 – 4897 – 4786
Major Resistance 16757 – 16942 Major Resistance 5028 – 5086
View
As the markets consolidated it is rumored that a wrong sell trade in Reliance took the markets down in a free fall to recover back from that low as the mistake was rectified. But due to this the overall sentiment remained to be fearful throughout the day with market players suddenly starting to feel scared. Usually after big moves on the index the next day is an indecisive day therefore it is expected that two things can happen for today – first is it could be an indecisive day with the markets staying volatile closing where near where they would start today or second if they open flat then considering yesterdays trade to be a mistake the indices would bounce back. As for levels for today watch support coming in from yesterdays lows @ 16318 for the Sensex and 4961 for the Nifty. On the higher side first resistance comes in @ 16757 and second @ 16942 for the Sensex and similarly 5028 – 5086 for the Nifty. Hold a Low Profile…
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Market View for Tuesday 01 Jun 2010
Index Levels
BSE Sensex 16944.63 NSE Nifty 5086.30
Major Support 16872 – 16806 Major Support 5076 – 5038
Major Resistance 16971 – 17000 – 17130 – 17267 Major Resistance 5105 – 5137 – 5180 – 5212
View
The markets at last hour of trading managed to move up sharply amidst heavy short covering to close in the green. Throughout the day the trading was volatile with the indices moving up in the green and back in the red several times. Yesterday was also the fourth consecutive day for the indices to move up and therefore the cautious trade for the markets. Today watch resistance @ 16971 for the Sensex and 5105 for the Nifty. On the lower side support comes in @ 16872 and 5076 for the indices. With an approx 300 point gain on the Nifty in the last four days the indices would continue to remain cautious with the action been scrip specific. Therefore keep a close watch on stocks of have formed any patterns.
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Market View for Monday 31 May 2010
Index Levels
BSE Sensex 16863.06 NSE Nifty 5066.55
Major Support 16494 – 15960 Major Support 4944 – 4786
Major Resistance 16961 – 17389 – 17356 Major Resistance 5093 – 5212 – 5278
View
The indices take support on the lower band of the channel making a mark of the strength of technical analysis. For this week investors need to watch supports coming in from the opens and lows made last week by the indices. These levels are 16494 – 15960 for the Sensex and 4944 – 4786 for the Nifty. On the higher side the markets would continued to gallop but with indecisive days in between. The next levels which the markets would try achieving are 17389 for the Sensex and 5212 for the Nifty. Overall the trend in the June contracts is expected to remain bullish. If otherwise you would get to read the change in our newsletter. For this contract keep a close on scrip specific moves.
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Market View for Friday 28 May 2010
Index Levels
BSE Sensex 16666.40 NSE Nifty 5003.10
Major Support 16538 – 16410 – 16331 Major Support 4959 – 4915 – 4897
Major Resistance 16757 – 17000 Major Resistance 5029 – 5105
View
Look at the profision charts of sensex and nifty and you would score them 100 out of 100 for their technical move. The markets came down tested support from the lower band of the channel and moved up. That’s another win for Technical Analysis. Now watch resistance coming in for the Sensex @ 16757 and for the Nifty @ 5029 levels. Today if the markets open flat they would see good strength coming in and the move like yesterday could continue. The only problem is with a gap up opening which could cause the indices to take a breather. Hold a scrip specific view.
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Market View for Thursday 27 May 2010
Index Levels
BSE Sensex 16387.84 NSE Nifty 4917.40
Major Support 16228 – 16069 Major Support 4862 – 4807
Major Resistance 16444 – 16757 Major Resistance 4945 – 5029
View
The markets bounced sharply as they touched supports coming in from the bottom of the trending channel which we have been discussing for long now. For the Nifty this level is at 4800 levels approximately and for the Sensex it comes in @ 16000 levels. But looking at the candlesticks the move still is not decisive as the formation is an Harami pattern. Do not wrongly take it to be a Hindi word because it actually is a Japanese word meaning pregnant. And the story goes on that same way as a pregnant woman cannot run a race the price too cannot run a race suggesting indecision on part of the markets players. But tomorrow could be a lot different with the May contracts scheduled to expire. For the day watch support and resistance coming in from the open and closing price of the body of the Harami pattern. These levels are 16444 for the Sensex and 4945 for the Nifty – both acting as resistance. On the lower side supports to be seen @ 16228 and 4862 for the Sensex and the Nifty respectively. Till a close above or below is observed it would not be correct to decide on the direction of the markets. Stocks are still in dilemma without clear signals and therefore holding a low profile with patience is the best strategy in the current market.
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Market View for Tuesday 25 May 2010
Index Levels
BSE Sensex 16469.55 NSE Nifty 4943.95
Major Support 16413 – 16187 – 16000 Major Support 4923 – 4842 – 4800 – 4750
Major Resistance 16757 – 17000 Major Resistance 5029 – 5065
View
The indices open with a gap up opening as market players celebrated the sort of re-union of the Ambani brothers. Sometimes it really is funny the way the markets react to certain events for example in this case traders seem more happy to rejoice then the brothers themselves. But as usual the intraday trader finally is massacred and that’s the same thing observed in the trading hours yesterday. The markets after opening with a gap up managed to move further up giving a boost of confidence to traders who had got in the bus on the long side to finally loose all hopes as the overall markets and indices crashed by the end of trading hours. The complete action was in the Reliance pack and nowhere else. For today watch the highs and lows made yesterday as DOJI formations are seen on the candlestick patterns. For the Sensex watch support @ 16413 and for the Nifty @ 4923. On the higher side resistance comes in @ 16757 for the Sensex and 5029 for the Nifty. Between these levels the indices will trade choppy. Weakness would continue as the indices fail to sustain at higher levels. Hold a Low Profile…
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Market View for Monday 24 May 2010
Index Levels
BSE Sensex 16445.61 NSE Nifty 4931.15
Major Support 16187 – 16000 – 15651 – 15330 Major Support 4842 – 4800 – 4750 – 4675
Major Resistance 16703 – 16961 – 17389 Major Resistance 5012 – 5093 – 5212
View
Correction continued with the indices coming down to reach supports. A further 2 to 3 % correction for the indices can be considered as safe without a reason to create panic. The movement for the indices could turn choppy as they approach supports. These are very major supports for the markets as they come in from 3 different patterns – neckline of an inverted head and shoulder formed in September 2009, lower band of a trending channel formed between October 2009 to May 2010 and last but not the least from the neckline of a head and shoulder pattern which is visible having a neckline value at these levels. Upside would still be limited for the indices therefore it would be wrong to consider that with such good supports the markets would manage to bounce back immediately. The indices may trade volatile test and confirm these levels before a further trend is initiated. For the coming week watch resistance coming in for the Sensex @ 16703 and 5012 for the Nifty. Below these levels weakness could take the indices down to 16187 – 16000 for the Sensex and 4842 – 4800 for the Nifty. Markets players should hold a low profile till the view on the direction of the indices is clear. Stocks picked up on individual basis should be checked twice before putting in money. Hold a Low Profile…
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Market View for Friday 21 May 2010
Index Levels
BSE Sensex 16519.68 NSE Nifty 4947.60
Major Support 16419 – 16373 – 16167 Major Support 4924 – 4908 – 4835
Major Resistance 16617 – 16802 Major Resistance 4980 – 5065
View
As expected and mentioned in our yesterdays newsletter the indices closed the day on an indecisive note and with a Doji formation on candlestick charts which suggest indecisiveness. For the day watch stiff resistance coming in from 16617 for the Sensex and 4980 for the Nifty. On the lower side support comes in @ 16419 for the Sensex and 4924 for the Nifty. The day could be calculated based on a move above or below these levels. Gap up or gap down opening could see a reversal in trend for the intraday. Weakness would continue amidst choppy trade if the indices open flat. Overall the picture suggests that it is better for investors and traders to stay away from the markets for the time being. Hold a Low Profile…
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Market View for Thursday 20 May 2010
Index Levels
BSE Sensex 16408.49 NSE Nifty 4919.65
Major Support 16373 – 16255 – 16167 Major Support 4908 – 4858 – 4835
Major Resistance 16605 – 16802 Major Resistance 4992 – 5065
View
The markets sold off yesterday as expected and mentioned in the earlier newsletters heading down for those 4800 levels for the Nifty and 16000 odd levels for the Sensex. Usually after a big move the next day is always a choppy day with an indecisive pattern formation. Lets see if the markets hold to this theory today as well. For the day watch resistance @ 16605 for the sensex and 4992 for the Nifty. On the lower side supports come in @ 16373 and 4908 for the sensex and the nifty. Hold a Low Profile…
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Market View for Wednesday 19 May 2010
Index Levels
BSE Sensex 16875.76 NSE Nifty 5066.20
Major Support 16744 – 16551 – 16438 Major Support 5024 – 4966 – 4935
Major Resistance 17000 – 17130 – 17267 Major Resistance 5105 – 5137 – 5180
View
As suggested yesterday the markets continued to trade choppy closing with an indecisive spinning top pattern on candlestick charts. Today if the markets open with a gap up opening expected them to sell off but a gap down opening could make investors happy as the indices would pull back. On the intraday front the choppiness would continue. On the overall short term picture the downtrend is expected to continue further. As of levels watch yesterdays high and low as trend decider levels for today. For sensex resistance comes in @ 17000 and for the Nifty @ 5105. On the lower side support for the sensex comes in @ 16744 and for the Nifty @ 5024. Hold a Low Profile…
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Market View for Tuesday 18 May 2010
Index Levels
BSE Sensex 16835.56 NSE Nifty 5059.90
Major Support 16551 – 16438 – 16167 Major Support 4966 – 4935 – 4833 – 4755
Major Resistance 16961 – 17130 – 17267 Major Resistance 5093 – 5137 – 5180
View
Yesterday was a big day for the markets as they witnessed sell off till the afternoon hours but later managed to cover the losses and pulled back more than 50% of the total sell off. The overall trend still remains down with odd days displaying the opposite mood. For today the lows made by the indices yesterday would act as crucial supports. Sensex has a support @ 16551 and Nifty has it @ 4966 levels. On the higher side as the indices try to move up the immediate resistance comes in @ 16961 for the Sensex and 5093 for the Nifty. The day is expected to be choppy to dull. Hold a Low Profile…
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Market View for Monday 17 May 2010
Index Levels
BSE Sensex 16994.60 NSE Nifty 5093.50
Major Support 16799 – 16684 – 16438 – 16167 Major Support 5026 – 4984 – 4935 – 4833
Major Resistance 17389 – 17536 – 17826 Major Resistance 5212 – 5278 – 5342
View
The last week saw the markets start on a firm footing with big jump for the Sensex and the Nifty on Monday. The later part of the week failed to encourage the investors and the rally fizzled out to close the week below immediate resistance. Selling was clearly visible with the closing being below 50% of the gains for the week. As mentioned earlier the Nifty is heading for supports @ 4800. This is normal behavioral pattern observed in the months of May every year when the markets sell off due to the heat. Now the next trigger for the markets to stabilize would be the monsoon. Remember it would be the actual monsoon and not the predictions from the MET department as historically they have been consistent to fail every year. Technically for the coming week investors need to watch immediate supports coming in @ 16799 for the Sensex and 5026 for the Nifty. These levels if respected would help the markets stay afloat. On the higher side resistance comes in @ 17389 for the Sensex and 5212 for the Nifty. The indices would remain between these levels till a close above or below these levels. In between these levels the indices would trade choppy and should not surprise investors in the days are dull. This trend is expected to continue in all the major global markets. Money is still not coming in as required as investors take a cautious approach while looking at the stock markets worldwide. The best strategy for the coming week would be holding a low profile…
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Market View for Friday 14 May 2010
Index Levels
BSE Sensex 17265.87 NSE Nifty 5178.90
Major Support 17240 – 17028 – 16799 Major Support 5147 – 5098 – 5026
Major Resistance 17389 – 17464 – 17536 Major Resistance 5212 – 5250 – 5278
View
The markets trade indecisive and in the last three trading sessions has got into a range. For today and till we get a breakout above or below these levels one needs watch these levels closely keeping in mind that the choppiness would continue to remain high in between these levels. Resistance and upper end of this band should be watched @ 17389 for the Sensex and 5212 for the Nifty. On the lower side supports should be watched @ 17240 for the Sensex and 5147 for the Nifty. Hold a Low Profile…
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Market View for Wednesday 12 May 2010
Index Levels
BSE Sensex 17141.53 NSE Nifty 5136.15
Major Support 17104 – 17065 – 16799 Major Support 5126 – 5110 – 5026
Major Resistance 17238 – 17379 – 17464 – 17646 Major Resistance 5162 – 5206 – 5250 – 5294
View
As expected and mentioned in yesterdays newsletter the markets witness consolidation. The mood as of now is cautious and individual stocks are in the grip of indecision. For today watch supports @ 17104 for the Sensex and 5126 for the Nifty. On the higher side immediate resistance comes in @ 17238 and 5162 for the Sensex and the Nifty respectively. Hold a Low Profile…
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Market View for Tuesday 11 May 2010
Index Levels
BSE Sensex 17330.55 NSE Nifty 5193.60
Major Support 17065 – 16799 Major Support 5110 – 5026
Major Resistance 17356 – 17464 – 17646 Major Resistance 5203 – 5250 – 5294
View
The markets get a big thumbs up as investors go through the article published by Technical Analysis Guru which gives them a direction of the current developments. Hip Hip Hurray to Technical Analysis Guru. For today we need to be cautious as our normal observation suggests us that every time after a big move in a single day the next day has been choppy and indecisive. As for levels watch supports for the Sensex @ 17065 and for the Nifty @ 5110. On the higher side immediate resistances come in @ 17356 for the Sensex and 5203 for the Nifty. There are chances that the indices would test 17464 for the Sensex and 5250 for the Nifty before they get in a cautious mood. It is advisable to Hold a Low Profile…
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Market View for Friday 07 May 2010
Index Levels
BSE Sensex 16987.53 NSE Nifty 5090.85
Major Support 16823 – 16566 Major Support 5037 – 4950
Major Resistance 17080 – 17121 – 17254 Major Resistance 5124 – 5148 – 5186
View
The markets again witnessed the same trend as of Wednesday. The undercurrent seems to be coming in for the last two days but during this time the indices seem to lose investor interest as they move back up. Till the time the indices do not find buyers which can take it up and above the resistance levels then markets would be in the grip of bulls. For today watch major resistance @ 17080 for the Sensex and 5124 for the Nifty. On the lower side supports come in @ 16823 for the Sensex and 5037 for the Nifty. Between these levels the indices would remain choppy and will trade with low volumes. Hold a Low Profile…
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Market View for Thursday 06 May 2010
Index Levels
BSE Sensex 17087.96 NSE Nifty 5124.90
Major Support 16858 – 16566 Major Support 5056 – 5049 – 4950
Major Resistance 17121 – 17254 – 17371 Major Resistance 5148 – 5186 – 5223
View
The markets opened weak and witnessed selling in the first half of the day. The trend reversed in the later part of the day with the indices bouncing back from their intraday lows to close the day with nominal losses. This was mostly on account of short covering witnessed in the index heavyweights. The markets would remain weak till they trade below resistances mentioned. For the Sensex these levels would come in @ 17121 and for the Nifty @ 5148 levels. On the lower side the lows from where the indices bounced back would provide good supports. These levels should be watched @ 16858 for the Sensex and 5056 for the Nifty. Hold a Low Profile…
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Market View for Wednesday 05 May 2010
Index Levels
BSE Sensex 17137.14 NSE Nifty 5148.50
Major Support 17101 – 17061 – 16888 – 16566 Major Support 5134 – 5101 – 5049 – 4950
Major Resistance 17254 – 17371 Major Resistance 5186 – 5223
View
The markets sell off as they break crucial supports mentioned in yesterday’s newsletter. This also marks the start of a short term correction for the markets. With no major supports immediately the indices could fall down to 16566 for the Sensex and 4950 for the Nifty. For today watch resistance for the Sensex @ 17254 and for the Nifty @ 5186. Below these levels the weakness will continue. As in the last 6 months the indices seem to now head southwards to test 4800 for the Nifty and 15900 for the Sensex. Hold a Low Profile...
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Market View for Tuesday 04 May 2010
Index Levels
BSE Sensex 17386.08 NSE Nifty 5222.75
Major Support 17344 – 17276 – 17061 Major Support 5210 – 5202 – 5160 – 5101
Major Resistance 17536 – 17646 Major Resistance 5278 – 5294 – 5342
View
The markets opened weak and traded weak throughout the day. The closing is just above crucial short term supports and needs to watched closely for today. If these supports are broken the indices would plunge down in fear and a short term correction would set in. Till the time the markets respect supports @ 17344 – 17276 for the Sensex and 5210 – 5160 for the Nifty they would remain positive to cautious. On the higher side there are a cluster of resistances starting from 17536 for the Sensex and 5278 for the Nifty. It is better to hold a low profile due to such a cautious view on the indices.
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Market View for Monday 03 May 2010
Index Levels
BSE Sensex 17558.71 NSE Nifty 5278.00
Major Support 17344 – 17276 Major Support 5202 – 5160
Major Resistance 17826 – 18047 – 18314 Major Resistance 5342 – 5399 – 5545
View
The last two weeks have seen the indices close on an indecisive note. Both the weeks have seen the prices close with a spinning top pattern on candlestick charts. This suggests that investors are not yet ready to take aggressive positions in the markets. With this kind of a pattern formation for the coming week it is important to watch the high and low levels triggered by the price. These levels have a lot of sentiments attached and therefore would play an important role as trend deciders. Resistance comes in @ 17826 for the Sensex and 5342 for the Nifty. On the lower side supports come in @ 17344 and 5202 for the Sensex and the Nifty respectively. A breakout above or below these levels will decide the further direction. Market players should restrict themselves from entering positions till such a move by the indices is observed. Individual stocks would display spikes which would prove fatal so avoiding them would be a better strategy. Hold a Low Profile till stocks and the markets display confident moves.
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Friday 30 Apr 2010
Index Levels
BSE Sensex 17503.47 NSE Nifty 5254.15
Major Support 17382 – 17344 – 17276 Major Support 5215 – 5202 – 5160
Major Resistance 17532 – 17643 Major Resistance 5264 – 5308
View
The markets traded sideways managing to close in the green for the day. The indices have closed below crucial resistances coming in from yesterdays median therefore suggesting that the weakness is expected to continue. For today watch @ 17352 for the Sensex and 5264 for the Nifty. Below these levels the indices would trade weak and with low volumes. The choppiness could also be on the higher side. Supports exists @ 17382 for the Sensex and 5215 for the day. Hold a Low Profile…
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Market View for Wednesday 28 Apr 2010
Index Levels
BSE Sensex 17690.62 NSE Nifty 5308.35
Major Support 17678 – 17533 – 17408 Major Support 5301 – 5299 – 5269
Major Resistance 17769 – 17826 – 17975 – 17995 Major Resistance 5330 – 5342 – 5373 – 5382
View
The markets stayed flat and consolidated for the day on low volumes and choppy trade. The market is expected to cool off for the next two days with the April contract’s expiry on way. As mentioned in the Monday newsletter spikes in individual stocks are possible throughout the week. For the day watch resistance @ 17769 – 17826 for the Sensex and 5330 – 5342 for the Nifty. On the lower side supports come in @ 17678 and 5301 for the Sensex and the Nifty. In such a cautious market it is better to avoid aggressive positions. Holding a Low Profile would be the best strategy still some clear signals are generated by the indices.
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Market View for Tuesday 27 Apr 2010
Index Levels
BSE Sensex 17745.28 NSE Nifty 5322.45
Major Support 17692 – 17533 – 17408 Major Support 5299 – 5269 – 5221
Major Resistance 17826 – 17975 – 17995 – 18047 Major Resistance 5342 – 5373 – 5382 – 5399
View
The markets continued to move up inching slowly. The indices will find it difficult as they approach the recent highs. Choppiness would increase with the mood getting cautious. For now watch a cluster of resistances coming in for the Sensex from 17826 – 18047 levels and for the Nifty between 5342 – 5399 levels. On the lower side supports should be watched @ 17692 and 5299 for the Sensex and the Nifty. HOLD A LOW PROFILE…
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Market View for Monday 26 Apr 2010
Index Levels
BSE Sensex 17694.20 NSE Nifty 5304.10
Major Support 17276 – 17061 – 16716 Major Support 5160 – 5101 – 5012
Major Resistance 17778 – 17874 – 17995 – 18047 Major Resistance 5331 – 5354 – 5382 – 5399
View
Last week amidst a choppy ride for the indices they managed to close the week in positive. After the first day sell off the markets managed to stay afloat moving up slow and steady. The best part of the trade was that this move was witnessed after the Goldman episode which rocked the global markets with a lot of rumors floating about a new subprime surfacing back. Indian markets showed their resilience yet again convincing that they are in no mood to get in the hands of the bears. Technically watch supports for the two indices throughout the week @ 17276 for the Sensex and 5160 for the Nifty. Above these levels the indices are expected to stay strong. On the higher side resistance comes in @ 17778 for the Sensex and 5331 for the Nifty. These support and resistance levels come in from last week’s high and lows. If the indices cross the resistance levels then they would head towards the recent highs. Stocks would display mixed mood and sharp spikes cannot be denied. HOLD A LOW PROFILE…
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Market View for Friday 23 Apr 2010
Index Levels
BSE Sensex 17573.99 NSE Nifty 5269.35
Major Support 17476 – 17408 Major Support 5248 – 5221
Major Resistance 17584 – 17663 – 17778 Major Resistance 5279 – 5323 – 5331
View
For the third day in a row the markets witness a positive mood till the noon hours after which the rally fizzles out and a cautious mood grips the indices bringing them down to close near the earlier days high levels. The pattern on candlestick charts is indecisive with a spinning top formation. The indices have to break past the clutches of fear near the resistance levels. This could happen with a decisive closing for the markets. For now watch resistance for the Sensex @ 17584 and for the Nifty @ 5279 levels. On the lower side supports come in @ 17476 and 5248 for the Sensex and the Nifty respectively. Avoid positions as of now as the overall mood remains cautious. HOLD A LOW PROFILE…
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Market View for Thursday 22 Apr 2010
Index Levels
BSE Sensex 17472.56 NSE Nifty 5244.90
Major Support 17446 – 17394 – 17276 Major Support 5230 – 5208 – 5160
Major Resistance 17565 – 17584 – 17663 Major Resistance 5266 – 5279 – 5323
View
The markets again display the same type of trade as yesterday. Choppiness stayed in the markets even today and could be active today as well. The indices have been witnessing sell off at higher levels for the last two days and therefore suggest that the resistance levels could prove to be a major hurdle. For the bulls to be back in action it would be important for the markets to breach resistances @ 17565 for the Sensex and 5266 for the Nifty. Below these levels the volumes would remain low. On the lower side supports come in @ 17446 for the Sensex and 5230 for the Nifty. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Wednesday 21 Apr 2010
Index Levels
BSE Sensex 17460.58 NSE Nifty 5230.10
Major Support 17394 – 17276 – 17061 Major Support 5208 – 5160 – 5101
Major Resistance 17560 – 17584 – 17663 Major Resistance 5257 – 5279 – 5283
View
The markets showed signs of strength as they opened in positive. In the afternoon hours the strength fizzled out with the indices selling off from the intraday highs. Though the move was positive compared to Monday’s trade the markets would continue to remain cautious. For today watch supports @ 17394 for the Sensex and 5208 for the Nifty. Above these supports the markets would try to stay afloat. On the higher side resistance would come in @ 17560 for the Sensex and 5257 for the Nifty. With a cautious view on the markets it is better to stay away from individual stocks for the time being. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Tuesday 20 Apr 2010
Index Levels
BSE Sensex 17400.68 NSE Nifty 5203.65
Major Support 17276 – 17061 Major Support 5160 – 5101
Major Resistance 17492 – 17584 Major Resistance 5241 – 5279
View
The markets opened with approximately 1% gap down and traded approximately at those levels throughout the day. The trade was choppy with a pullback seen in the afternoon hours. For today watch supports coming from yesterdays lows. These are the levels from where the markets should signs of recovery. Support comes in @ 17276 for the Sensex and 5160 for the Nifty. On the higher side the resistance would be faced @ 17492 and 5241 for the Sensex and the Nifty respectively. Avoid new positions till the stocks display a clear trend. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Monday 19 Apr 2010
Index Levels
BSE Sensex 17591.18 NSE Nifty 5262.60
Major Support 17529 – 17337 – 17061 – 16716 Major Support 5237 – 5187 – 5101 – 5012 – 4780
Major Resistance 17732 – 17874 – 17995 Major Resistance 5308 – 5354 – 5382
View
The markets show signs of correction with the weekly closing being in red if compared with the last weeks closing for the indices. The medium term trend though remains intact the short term trend is expected to be corrective. This correction is expected to be an overall correction for the markets. PROFISION technical charts knew that the correction was coming and this time too the charts displayed this – the same can be read in our daily newsletter for Friday morning. Goldman was charged later in the day on Friday. As mentioned technically the markets seem ripe for a correction. Intraday could be choppy and volumes would remain missing. To add to the technical development and the fraud charge against Goldman Sach we have the earnings season underway which would add to the volatility. Technically watch levels of 17337 – 17061 as supports for the Sensex and 5187 – 5101 for the Nifty. If these levels are cracked then the markets could even move further south wards to test the levels at approximately 15800 for the Sensex and 4800 for the Nifty. On the higher side throughout this week the markets are expected to face resistance. Market players should concentrate on supports as of now. It is time to rework on your portfolios, decide their stop losses and act accordingly. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Friday 16 Apr 2010
Index Levels
BSE Sensex 17639.26 NSE Nifty 5273.60
Major Support 17619 – 17488 Major Support 5265 – 5235
Major Resistance 17804 – 17975 Major Resistance 5323 – 5373
View
The markets sell off as the earnings season continues. An identical pattern formed by the markets as made 3 times in the past from August 2009 till date. The indices continue to make higher tops and higher bottoms with the markets correcting approximately 10% after testing a new high. If we have to believe this then the current pattern should bring the markets down by the same percentage to test supports at approximately 4900 levels for the Nifty. As of now the indices have a tough resistance @ 17804 for the Sensex and 5323 for the Nifty. Below these levels the indices would continue to trade under pressure and could fall down to test supports @ 17488 for the Sensex and 5235 for the Nifty. Avoid entering positions at current levels with such a dicy view on the markets. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Thursday 15 Apr 2010
Index Levels
BSE Sensex 17821.96 NSE Nifty 5322.95
Major Support 17736 – 17679 – 17488 Major Support 5301 – 5290 – 5235
Major Resistance 17892 – 17995 – 18047 Major Resistance 5356 – 5399
View
The markets trade another day with the mood remaining indecisive. With the last earnings season on the way the markets would stay more or less at the current levels consolidating the views, opinions and numbers. For today watch immediate support between 17736 – 17679 for the Sensex and 5301 – 5290 for the Nifty. On the higher side resistance comes in @ 17892 for the Sensex and 5356 for the Nifty. Expect the day to be of low volume and extreme choppiness. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Tuesday 13 Apr 2010
Index Levels
BSE Sensex 17853.00 NSE Nifty 5339.70
Major Support 17816 – 17679 Major Support 5324 – 5291
Major Resistance 17995 – 18047 – 18314 Major Resistance 5382 – 5399 – 5545
View
The markets close on an indecisive mood. The last five days have witnessed cautious mood and for this week the indices have to close above the last weeks highs to confirm that the markets are in hands of the bulls. Another day of dull and choppy trade cannot be ruled out. Watch resistance for the Sensex @ 17995 and 5382 for the Nifty. On the lower side support exists @ 17816 and 5324 for the Sensex and the Nifty. Hold a Low Profile...
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Market View for Monday 12 Apr 2010
Index Levels
BSE Sensex 17933.14 NSE Nifty 5361.75
Major Support 17813 – 17693 – 17488 Major Support 5326 – 5291 – 5187
Major Resistance 18047 – 18314 – 18496 – 18895 Major Resistance 5399 – 5545 – 5705
View
An eventful week for the Indian stock markets. The mood remained cautious as the intra week move was choppy. The week started off on bullish note with the indices breaking past the recent highs for the indices. Then correcting them during the week to test the levels which they had broken out from and moving up again to close the week on a strong note to just close below the intraweek highs. This also marks a close above 52 week high levels for the indices. This close also marks the failure of a formation of a Head & Shoulder pattern on Technical Charts further improving the sentiment of the markets. In the last week of February all who had entered short positions and had carried them forward anticipating that the indices would crack due to this reversal formation are now making a loss and these participants are not expected to come back to cover their short positions. This would further help the markets to rally. The cautious mood will improve as the markets stay positive for a few more weeks. Retail participation continues to remain low on a comparative basis. Technically the indices would face resistance coming in from the highs made last week. Sensex has an immediate resistance @ 18047 and Nifty has it @ 5399 levels. On the lower side support comes in @ 17813 – 17693 for the Sensex and 5326 – 5291 for the Nifty. Above these supports the indices should be able to stay strong and would try testing higher resistances till 18895 for the Sensex and 5705 for the Nifty. For individual stocks the week could be choppy and everyday would continue to be a new day for them as they try to perform. Hold a Scrip Specific View…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Friday 09 Apr 2010
Index Levels
BSE Sensex 17714.40 NSE Nifty 5304.45
Major Support 17679 – 17488 Major Support 5290 – 5235
Major Resistance 17832 – 17950 Major Resistance 5340 – 5376
View
The markets sold off in a big way today. It was an overall broad based sell off for the markets. It seems that the market players would like the markets to test supports and prove their strength before the next move could start. So in a way today would be a very important day for the markets. Players need to closely watch the way the markets react when the reach the crucial support levels. Sensex has a major support between 17679 – 17488 levels and the Nifty has it @ 5290 – 5235 levels. Watch these levels closely till the view changes. On the higher side immediate resistance comes in @ 17832 and 5340 for the Sensex and the Nifty. Choppy trade will continue. Hold a Low profile…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Thursday 08 Apr 2010
Index Levels
BSE Sensex 17970.02 NSE Nifty 5374.65
Major Support 17878 – 17814 – 17693 Major Support 5345 – 5329 – 5291
Major Resistance 18047 – 18314 – 18895 Major Resistance 5399 – 5545
View
The markets started the day off on a strong note but eventually faced selling at the high levels in the intraday trade. The indices finally closed with spinning top patterns on candlestick charts suggesting indecisive mood for the day but second day in a row. For the trade today market players need to watch the highs and lows made by the two indices as trend deciders. Sensex has an immediate resistance coming in from this trend decider level @ 18047 and 5399 for the Nifty. On the lower side support and lower trend decider level comes in @ 17878 for the Sensex and 5345 for the Nifty. Between these levels the trade will continue to be choppy and dull. Hold a Low profile…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Wednesday 07 Apr 2010
Index Levels
BSE Sensex 17941.37 NSE Nifty 5366.00
Major Support 17898 – 17814 – 17693 Major Support 5351 – 5329 – 5291
Major Resistance 17991 – 18314 – 18895 Major Resistance 5388 – 5545
View
The indices close on an indecisive note. The volumes continue to remain high on the overall markets. This is normal trade which can be observed after the indices give a big breakout or a big move on someday. The next day usually has to be an indecisive or a dull trading day. The bull charges should continue further. Choppiness and corrective move to test support levels cannot be denied but the overall mood should remain positive. Watch supports for the Sensex @ 17898 and for the Nifty @ 5351 levels. On the higher side resistance comes in from highs made yesterday by the Sensex @ 17991 and by the Nifty @ 5388 levels. These two levels will also act as trend decider levels for the markets throughout the day. Hold a Scrip Specific View…
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Market View for Tuesday 06 Apr 2010
Index Levels
BSE Sensex 17935.68 NSE Nifty 5368.40
Major Support 17814 – 17693 Major Support 5329 – 5291
Major Resistance 18314 – 18895 Major Resistance 5377 – 5545
View
The markets give a confident breakout after being cautious for a lot many days. This trade should be able to help the markets gain strength overcoming the cautiousness and taking the bulls on the top again. An intraday correction too now would be able to take support @ 17814 for the Sensex and 5329 for the Nifty. On the higher side the indices are heading towards 18895 for the Sensex and 5545 for the Nifty. But this would in the next two weeks. As of now the bullishness is expected to continue. Choppiness would stay but overall the mood now should remain positive. Hold a Scrip Specific View…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Monday 05 Apr 2010
Index Levels
BSE Sensex 17692.62 NSE Nifty 5290.50
Major Support 17488 – 17337 – 17061 Major Support 5235 – 5187 – 5101
Major Resistance 17790 – 17793 – 18314 – 18895 Major Resistance 5310 – 5329 – 5545
View
The markets closed indecisive due to the cautious sentiment in force by market players as the indices traded near resistance levels. This is clearly visible on candle stick patterns with a Doji formation for the Sensex and the Nifty on weekly closing basis. During the last week the indices tried to break past the crucial resistance twice but failed. This makes the situation more jittery. The coming week to be important for the markets for them to decide their direction. The positions in the markets as of now are mixed and a direction will be decided on the way the indices close on a weekly closing basis. If the indices fail to break past above the resistance levels then the markets would cripple with supply gaining an upper hand but at the same time if the weekly closing is above the resistance then the indices are heading further north wards. The closing would make the positions clearly in terms of profit and loss thus ensuring that the further move is a fast one. Technically the levels of resistance for the Sensex are @ 17790 – 17793 and 5310 – 5329 for the Nifty. These levels are the deciding factors as mentioned above and therefore should be watched closely. On the lower side supports come in @ 17488 for the Sensex and 5235 for the Nifty. Choppiness will remain high as the indices continue to trade below the resistance levels. Hold a Scrip Specific View…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Thursday 01 Apr 2010
Index Levels
BSE Sensex 17527.77 NSE Nifty 5249.10
Major Support 17488 – 17383 – 17337 Major Support 5235 – 5202 – 5187
Major Resistance 17602 – 17699 – 17703 – 17783 Major Resistance 5293 – 5302 – 5325 – 5329
View
The markets continued to correct for a second day in a row. The trade was dull and on extreme low volumes. The mood is cautious which is but obvious due to the levels at which the indices are trading. The correction could see some sell off further to test supports @ 5187 for the Nifty and 17337 for the Sensex. These are good supports and need to be watched to judge the short term trend of the markets. On the higher side resistance comes in @ 17602 – 17699 for the Sensex and 5293 – 5302 for the Nifty. These are immediate resistances for the intraday trade. The major hurdles would come in much later and at recent highs made by the Sensex @ 17783 and 5329 for the Nifty. But till the time the indices trade between these levels expect the markets to be choppy. The volumes will continue to remain dull. It is advised to stay away from the markets in the current situation. Hold a Low Profile…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Thursday 25 Mar 2010
Index Levels
BSE Sensex 17451.02 NSE Nifty 5225.30
Major Support 17356 – 17337 – 17276 Major Support 5193 – 5187 – 5163 – 5128
Major Resistance 17530 – 17559 – 17600 Major Resistance 5243 – 5260 – 5269
View
The markets stay cautious as expected due to the fear of the markets cracking as they have done in the month of January 2010. The close for Tuesday was indecisive due to this cautious mood from market players. The day is expected to be another day of cautious mood. The indices need a breakout drastically if they have to break the shackles of fear that has gripped the markets at these levels. Resistance should be watched @ 17530 for the Sensex and 5243 for the Nifty. These are the levels for the day. The major hurdle would come in @ 17600 for the Sensex and 5269 for the Nifty. On the lower side support comes in @ 17356 and 5193 for the Sensex and the Nifty respectively. Choppiness is here to stay. HOLD A LOW PROFILE…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Tuesday 23 Mar 2010
Index Levels
BSE Sensex 17410.57 NSE Nifty 5205.20
Major Support 17337 – 17169 Major Support 5187 – 5163 – 5128
Major Resistance 17559 – 17600 Major Resistance 5233 – 5260 – 5269
View
The market players took a cautious approach as the indices approached resistance levels. The mood is going to remain cautious till a breakout actually happens. In the past also we have seen fear grip the markets when they had reached these levels in the month of January. For the Sensex 17559 comes in as an immediate resistance and 5233 for the Nifty. On the lower side supports come in @ 17337 for the Sensex and 5187 for the Nifty. Choppiness to remain high. HOLD A SCRIP SPECIFIC VIEW…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Monday 22 Mar 2010
Index Levels
BSE Sensex 17578.23 NSE Nifty 5262.80
Major Support 17372 – 17166 – 17061 Major Support 5198 – 5134 – 5101
Major Resistance 17600– 17790– 18314 – 18895 Major Resistance 5269– 5310– 5368 – 5545
View
The markets continued to move up with strength as the markets continued to shift interest from one stock to the other. The markets are now trading just below major resistances coming in from January 2010 highs. Therefore it would be a testing time for the overall markets as they try to breach these levels. Strength in form of participation and foreign money both will be required in plenty to get an upward breakout. PROFISION charts suggest that the indices would manage to break past these resistances as shorts try to cover their positions. For the week watch support coming in @ 17372 – 17166 for the Sensex and 5198 – 5134 for the Nifty. Above these levels the markets are expected to stay strong. But the main level which all markets participants need watch is the major resistance which exists @ 17790 for the Sensex and 5310 for the Nifty. A weekly close above this would bring in good strength back in the markets. Till this breakout is observed choppiness is expected to remain high and cautious mood to prevail. HOLD A SCRIP SPECIFIC VIEW…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Friday 19 Mar 2010
Index Levels
BSE Sensex 17519.26 NSE Nifty 5245.90
Major Support 17417 – 17389 – 17276 Major Support 5214 – 5177 – 5163 – 5128
Major Resistance 17548 – 17576 – 17712 Major Resistance 5255 – 5260 – 5292 – 5310
View
As expected the markets traded cautious and indecisive. The resistance levels are making the markets jittery. As of now the mood will continue to remain cautious as the indices trade just below major resistance levels. For the day watch resistance coming in @ 17548 for the Sensex and 5255 for the Nifty. On the lower side support comes in @ 17417 and 5214 for the Sensex and the Nifty. HOLD A SCRIP SPECIFIC VIEW…
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Wednesday 17 Mar 2010
Index Levels
BSE Sensex 17383.18 NSE Nifty 5198.10
Major Support 17276 – 17061 Major Support 5163 – 5128 – 5101
Major Resistance 17416 – 17474 – 17712 Major Resistance 5209 – 5220 – 5292
View
The markets give a breakout from the range bound dull trade witnessed during the earlier 8 trading sessions. This has been a broader market breakout making it strong thus confirming the strength of the markets and direction too. The indices are expected to head higher with this strength. On the lower side supports come in @ 17276 for the Sensex and 5163 for the Nifty. Above these levels the markets are expected to stay strong. The major resistance could come in only at 17712 for the Sensex and 5292 for the Nifty. HOLD A SCRIP SPECIFIC VIEW…
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Market View for Tuesday 16 Mar 2010
Index Levels
BSE Sensex 17164.99 NSE Nifty 5128.90
Major Support 17061 – 17027 – 16888 Major Support 5101 – 5092 – 5049
Major Resistance 17195 – 17244 – 17262 – 17474 Major Resistance 5151 – 5158 – 5220
View
The markets trade choppy to finally close on an indecisive note. The last 8 trading sessions have seen this kind of moment in the markets suggesting that the indices have decided to take a breather after celebrating the Budget in the last week of February. The move from here on to be bullish would require a lot of strength and power in form money flow. The retail participation continues to be on the lower side. For the day watch resistance coming in for the Sensex @ 17195 and for the Nifty @ 5151. These levels are immediate hurdles for the markets. On the lower side the support levels to be watched are 5101 and 17061 for the Nifty and the Sensex respectively. Stock are showing mixed moods and therefore it is better to hold a low profile…
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Market View for Friday 12 Mar 2010
Index Levels
BSE Sensex 17167.96 NSE Nifty 5133.40
Major Support 17054 – 17027 – 16936 – 16888 Major Support 5102 – 5092 – 5068 – 5049
Major Resistance 17215 – 17712 – 17776 Major Resistance 5152 – 5157 – 5220
View
The markets continued to trade choppy and indecisive. It was 6th day in row of such a trade. The undercurrent remains positive but a breakout is the need for the markets in the current scenario. This trade should help the indices move northwards to test the January highs. For the day watch resistance for the Sensex @ 17215 and 5152 for the Nifty. On the lower side supports come in @ 17054 and 5102 for the Sensex and the Nifty. Hold a Low profile…
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Market View for Thursday 11 Mar 2010
Index Levels
BSE Sensex 17098.33 NSE Nifty 5116.25
Major Support 17027 – 16936 – 16888 Major Support 5092 – 5068 – 5049
Major Resistance 17183 – 17712 – 17776 Major Resistance 5137 – 5147 – 5157 – 5220
View
Another range bound day for the markets with low activity of trade. The last five sessions have seen the markets trade indecisive and choppy. For the remaining two days of the week this mood is expected to continue. Resistance comes in @ 17183 for the Sensex and 5137 for the Nifty. On the lower side support comes in @ 5092 for the Nifty and 17027 for the Sensex. Investors should continue to hold a wait and watch approach.
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Market View for Wednesday 10 Mar 2010
Index Levels
BSE Sensex 17052.54 NSE Nifty 5101.50
Major Support 17031 – 16936 – 16888 Major Support 5094 – 5068 – 5049
Major Resistance 17130 – 17187 – 17712 – 17776 Major Resistance 5132 – 5147 – 5157 – 5220
View
Not much of activity in the markets yesterday. The indices traded on low volumes and lesser participation seen in the recent few months. It was a very range bound trade for the markets. For today the mood would remain the same. The recent technical formation which got a breakout after the budget would ensure that the markets move up by another 1 to 1.5 % from current levels. For today watch resistance for the Sensex @ 17130 and for the Nifty @ 5132. On the lower side support comes in @ 17031 and 5094 for the two indices respectively. STAY AWAY FROM THE MARKETS TODAY.
Precision Technical Analysis Pvt Ltd - Research Desk
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Market View for Tuesday o9 Mar 2010
Index Levels
BSE Sensex 17102.60 NSE Nifty 5124.00
Major Support 17034 – 16936 – 16888 Major Support 5092 – 5068 – 5049
Major Resistance 17187 – 17712 – 17776 Major Resistance 5147 – 5157 – 5220
View
The markets opened up and stayed flat throughout the day but failed to sustain in the last few hours of trade which saw some amount of selling coming in. For today the indices are likely to remain under pressure with very low activity expected in Index heavyweights. Sensex has a resistance coming in from yesterday’s highs @ 17187 and for the Nifty @ 5147 levels. On the lower side supports come in @ 17034 for the Sensex and 5092 for the Nifty. Choppy trade is expected. HOLD A SCRIP SPECIFIC VIEW…
Precision Technical Analysis Pvt Ltd - Research Desk
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- PRECI$ION TECHNICAL$
- PRECI$ION TECHNICAL$ is a PUNE based stock market training, consultancy and financial software company. Founded by Mr. Kiran Jadhav and Mr. Mandar Jamsandekar who collectively posses more than 30 years of experience in the Indian stock markets. A journey which started off as a partnership firm later moved on to be a private limited company. In the last 10 years Precision has emerged as not only a companion to many investors but also equipping them with the right knowledge which is required to be a winner in the stock market.A journey which started as a hobby has now shifted to be a mission to ensure that the power of knowledge and ideas of sensible investing reach, each and every house hold in India.