| BSE Sensex | 18858.04 |
| Major Support | 18682 – 18447 – 18132 |
| Major Resistance | 19131 – 19811 |
| NSE Nifty | 5660.65 |
| Major Support | 5610 – 5534 – 5441 |
| Major Resistance | 5740 – 5944 |
The markets close the week on an indecisive note with Doji / Spinning Top formation on candlestick charts. This close is on the falling trend line joining the recent tops. This also marks the importance of this level as a resistance as the markets get ready for the first quarter earning numbers which start coming in from this week. The developments will be closely tracked by all market players as they try to reaffirm the strength of the markets which have recently witnessed an approx 8% rally. The choppiness in the markets is set to rise and dull announcements would have a negative effect on the markets. At the current juncture for investors to get in aggressively they need to wait for a breakout above this trend line resistance. The highs and lows made by the indices last week would play an important role of trend deciders for the immediate short term. Sensex has a resistance @ 19131 and Nifty has it @ 5740 levels. On the lower side supports come in @ 18682 for the Sensex and 5610 for the Nifty. A move above or below these levels could help the indices move in that direction for this month. Stocks could see speculative interests coming in as their earning dates arrive. These stocks could prove to be a risky bet for investment but traders could see this as an opportunity. Wish you profitable week ahead…
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