Market View for Friday 17 Jun 2011

BSE Sensex

17985.88

Major Support

17958 – 17786

Major Resistance

18060 – 18155


NSE Nifty

5396.75

Major Support

5389 – 5328

Major Resistance

5419 – 5447


The markets continued to sell off for the day. They started off with a gap down opening to trade sideways in the first half of the day. Among the heavyweights L&T was a contributor to the sell off witnessed in the Nifty. It is the last day of the week and the weakness is expected to continue. One observation of todays trading was that the indices closed below their crucial sentimental levels of 18000 for the Sensex and 5400 for the Nifty. The Sensex could itself falling from current levels to test supports @ 17786 and Nifty could see itself testing supports @ 5328 levels. On the higher side resistance will be faced @ 18060 by the Sensex and 5419 by the Nifty. Hold a Low Profile…

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