| BSE Sensex | 18507.04 |
| Major Support | 18469 – 18326 – 18132 |
| Major Resistance | 18622 – 18694 – 18936 |
| NSE Nifty | 5567.05 |
| Major Support | 5550 – 5496 |
| Major Resistance | 5596 – 5654 |
The indices formed a spinning top formation on day end closing basis. This candlestick pattern symbolizes indecisive mood on account of market players. Tomorrow one of the results to be watched is Wipro and that is one announcement which could make the markets move. For tomorrow one needs to watch the highs and lows created on Monday as trend decider levels. Resistance and upward trend decider level should be watched @ 18622 for the Sensex and 5596 for the Nifty. On the lower side support and downward trend decider level should be watched @ 18469 for the Sensex and 5550 for the Nifty. With the uncertainty of the markets it is better for the investor to hold lower strike put options in Nifty which would be available cheap. This would also act as a hedge against the stocks held in the portfolios. For now hold a scrip specific view.
No comments:
Post a Comment