BSE Sensex 18209.52
Major Support 18188 – 18132 – 18022
Major Resistance 18327 – 18571
NSE Nifty 5487.75
Major Support 5475 – 5434 – 5407
Major Resistance 5512 – 5588
The markets opened with a gap down opening and continued to buck downwards under pressure of the RBI policy overhang. The closing is below the current range and therefore is a very weak sign for the markets. Friday being the last day of the week would be an important day for the markets. If the markets have to buck this trend then that could happen immediately in a day or two. Weakness is expected to stay till the indices trade below 18327 for the Sensex and 5512 for the Nifty. On the lower side the indices could test supports @ 18188 – 18022 for the Sensex and 5475 – 5407 for the Nifty. Individual stocks may continue to move their own way and therefore it would be better to hold a scrip specific view.
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