Market View for Monday 06 Jun 2011


BSE Sensex

18376.48

Major Support

18199 – 17786 – 17295

Major Resistance

18672 – 18871 – 19224


NSE Nifty

5516.75

Major Support

5458 – 5328 – 5177

Major Resistance

5604 – 5659 – 5766


The markets closed indecisive with a spinning top formation on candlestick charts. For the week one needs to watch resistance @ 18672 for the Sensex and 5604 for the Nifty. These levels will keep the indices under pressure. Below these levels the indices will continue to trade weak. On the lower side supports should be watched @ 18199 for the Sensex and 5458 for the Nifty. If the indices fail to breach resistance levels then expect them to sell off further. Hold a scrip specific view…

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