Market View for Tuesday 28 Jun 2011

BSE Sensex

18412.41

Major Support

18272 – 18132

Major Resistance

18494 – 18672


NSE Nifty

5526.60

Major Support

5483 – 5441

Major Resistance

5552 – 5605


The markets continued to rally for the third consecutive day. The rally could continue for another day as they reach major resistance levels. This rally could also trigger short covering as the June derivative contracts approach expiry on the coming Thursday. For the day watch supports @ 18272 for the Sensex and 5483 for the Nifty. Above these levels the markets would trade strong and test resistances @ 18494 – 18672 for the Sensex and 5552 – 5605 for the Nifty. Wait for intraday trading opportunities during the day. As of investment it is better to hold a low profile.

No comments:

Post a Comment