Market View for Wednesday 08 Jun 2011


BSE Sensex

18495.62

Major Support

18355 – 18258

Major Resistance

18545 – 18554 – 18672


NSE Nifty

5556.15

Major Support

5509 – 5479

Major Resistance

5570 – 5604


The markets opened with a gap down opening and moved up to close in the green. The movement was slow and steady throughout the day. As the indices head northwards they would face resistance @ 18545 for the Sensex and 5570 for the Nifty. These levels could bring in high levels of choppiness and caution in the markets. On the lower side supports come in @ 18355 for the Sensex and 5509 for the Nifty. Scrips are not showing any strong patterns as of now. The next triggers for the markets on the domestic front could be the first quarter earning numbers which still are one month away. This month expect the markets to trade more or less at the current levels. Hold a Low Profile…

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