Market View for Tuesday 31 May 2011

BSE Sensex	18232.06
Major Support	18199 – 18087 – 17862
Major Resistance	18380 – 18429 – 18492

NSE Nifty	5473.10
Major Support	5458 – 5413 – 5456
Major Resistance	5509 – 5517 – 5605

The markets opened with a gap up opening later to witness selling. All in all the day was dull and sideways on the day end closing basis. Candlestick formation was a spinning top which suggests indecision. The charts suggest that the action should start in the coming two months as the last 4 months have witnessed sideways trend and have been dull on activity. As of levels watch support for the Sensex @ 18199 and for the Nifty @ 5458 levels. On the higher side resistance would be faced @ 18380 by the Sensex and 5509 by the Nifty. It is better to hold a low profile in this current scenario.

Market View for Monday 30 May 2011

BSE Sensex 18266.10

Major Support 17786 – 17295

Major Resistance 18724 – 18871 – 19224


NSE Nifty 5476.10

Major Support 5328 – 5177

Major Resistance 5485 – 5605 – 5659



The markets closed on an indecisive note with the closing on candlestick patterns being a DOJI formation. The indices have managed to gain support at lower levels is something which is clearly visible. This week to be crucial as the indices try to move up from the current levels. For the Sensex watch support @ 17786 and for the Nifty @ 5328 levels. On the higher side resistance comes in @ 18724 for the Sensex and 5485 for the Nifty. Wait for the indices to break past any of these levels so as to decide their direction. Hold a scrip specific view…

Market View for Friday 27 May 2011

Index Levels BSE Sensex 18044.64 | NSE Nifty 5412.35 Major Support 17917 – 17862 – 17786 | Major Support 5372 – 5348 – 5232 Major Resistance 18072 – 18269 – 18429 | Major Resistance 5422 – 5456 – 5517 View The markets traded choppy trading dull in the first half of the day to later show strength and jump back in the late hours of trade. The markets could recover or rally in the first half of the day today. As they move up the resistance levels they could face testing times. It is the last day of the week and therefore the markets could remain dull in the closing hours. Sensex has a major resistance @ 18072 and Nifty has it @ 5422 levels. On the lower side supports come in @ 17917 for the Sensex and 5372 for the Nifty. Hold a Low Profile…

Market View for Wednesday 25 May 2011

Index Levels BSE Sensex 18011.97 | NSE Nifty 5394.85 Major Support 17933 – 17792 – 17469 | Major Support 5367 – 5348 – 5232 Major Resistance 18110 – 18269 – 18429 | Major Resistance 5422 – 5456 – 5517 View The markets traded flat and indecisive. On day end closing basis the indices formed Doji patterns which symbolize indecision. This is mainly due to lack of triggers on the domestic as well as global front. For the day watch support for the Sensex @ 17933 and for the Nifty @ 5367 levels. On the higher side watch resistance coming in @ 18110 for the Sensex and 5422 for the Nifty. Between these levels the indices would continue to trade dull. A move above or below these levels could bring in some movement in the markets. The bias continues to remain weak. For the overall markets some more sell offs cannot be denied. Hold a Low Profile…

Market View for Wednesday 25 May 2011

Index Levels BSE Sensex 18011.97 | NSE Nifty 5394.85 Major Support 17933 – 17792 – 17469 | Major Support 5367 – 5348 – 5232 Major Resistance 18110 – 18269 – 18429 | Major Resistance 5422 – 5456 – 5517 View The markets traded flat and indecisive. On day end closing basis the indices formed Doji patterns which symbolize indecision. This is mainly due to lack of triggers on the domestic as well as global front. For the day watch support for the Sensex @ 17933 and for the Nifty @ 5367 levels. On the higher side watch resistance coming in @ 18110 for the Sensex and 5422 for the Nifty. Between these levels the indices would continue to trade dull. A move above or below these levels could bring in some movement in the markets. The bias continues to remain weak. For the overall markets some more sell offs cannot be denied. Hold a Low Profile…

Market View for Tuesday 24 May 2011

Index Levels
BSE Sensex : 17993.33
Major Support : 17791 – 17469
Major Resistance : 18131 – 18269

NSE Nifty : 5386.55
Major Support : 5373 – 5348–5232
Major Resistance : 5421–5456


View
The indices continued to sell off. The overall markets and especially the index heavyweights were gripped by bears as they witnessed negative trades. The weakness is expected to deepen further due to lack of triggers on the domestic as well as international front. Though we may not have positive triggers even if the negative triggers stop flowing in would be of great help to the markets. As of levels for the Sensex watch support @ 17791 and for the Nifty @ 5373 levels. On the higher side resistance comes in @ 18131 for the Sensex and 5421 for the Nifty. Investors should hold a low profile. Its time to wait and watch. For traders make use of the Traders Assist inside Profision Pro to get a quick trade in the morning itself. Once the trade is closed shutdown your machine and get back to your work. An apple a day keeps the doctor away but do many apples a day keep the doctor always away. Intraday trading is same like this – one profitable trade can make you happy but try doing many trades and you will end up being a looser. Speculators help Disciplined Traders Win!!!

Market View for 23rd May 2011

Market View for Monday 23 May 2011

Index Levels

BSE Sensex 18326.09
Major Support 18020–17792–17469
Major Resistance 18492–18724–18871

NSE Nifty 5486.35
Major Support 5401–5348–5232
Major Resistance 5541–5605–5659

View
The indices continued to sell off from higher levels with weakness in the overall markets. The indices have supports coming in from the lower band of the channel which has been playing an important role since September 2009. For the week the indices will face resistance as they move up. Higher levels could see cautious mood gripping the markets. Major resistance should be watched @ 18492 for the Sensex and 5541 for the Nifty. Below these levels the indices will continue to feel the heat. Choppiness will stay in the markets for now. On the lower side the indices could test supports @ 18020 – 17792 for the Sensex and 5401 – 5348 for the Nifty. Hold a low profile…

Market View for Friday 20th, 2011

BSE Sensex 18141.40
Major Support 18057–18020–17792
Major Resistance 18198 – 18255 – 18374

NSE Nifty 5428.10

Major Support 5411 – 5401 – 5348

Major Resistance 5460 – 5496 – 5523

View
The markets traded dull and sideways. Friday last day of the trading week is expected to be another dull sight for the markets as they lack triggers. Weakness will continue to stay in the markets. The indices are expected to face resistance as they try to move northwards. Sensex has a resistance @ 18198 and Nifty has it @ 5460 levels. On the lower side supports come in @ 18020 and 5401 for the Sensex and the Nifty. These if broken could see the indices cracking further in a big way. Hold a Low Profile…