Market View for Tuesday 12 Jul 2011

BSE Sensex

18721.39

Major Support

18679 – 18552 – 18323

Major Resistance

18843 – 18971 – 19084


NSE Nifty

5616.10

Major Support

5601 – 5566 – 5496

Major Resistance

5652 – 5697 – 5734


The markets corrected another day as the earnings season set off. Today Infosys to announce numbers and would be watched by all as the markets trade at crucial levels. For the day we need to watch the supports closely which if cracked could see the indices entering a correction. This could also take the indices down to the recent lows made in the last month. Supports come in @ 18679 for the Sensex and 5601 for the Nifty. Below these levels expect the indices to test all the levels mentioned above. On the higher side resistance will be faced by the Sensex @ 18843 and by the Nifty @ 5652 levels. Hold a Low profile for today…

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