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…

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