Market View for Sunday 07 Aug 2011

BSE Sensex

18726.97

Major Support

18682 – 18694 – 18447

Major Resistance

18823 – 18942 – 19031


NSE Nifty

5625.45

Major Support

5610 – 5534 – 5441

Major Resistance

5655 – 5679 – 5706


The markets traded indecisive again for the third day in row. This is on account of the earnings season which starts from Friday. The indices are trading just below crucial resistance levels and the slightest of negative sentiment on part of the earnings numbers could play spoil sport. The choppiness is set to rise with the earnings number coming out. With an indecisive pattern on the day end closing basis the highs and lows formed by the indices would play an important role as we set for trade on Thursday. Watch resistance @ 18823 for the Sensex and 5655 for the Nifty. On the lower side watch supports coming in @ 18682 and 5610 for the Sensex and the Nifty respectively. A move above or below these levels would make the markets move in that direction. Get ready for a lot of surprises and plenty of moves from the coming week. Hold a scrip specific view…

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