Market View for Wednesday 06 Jul 2011

BSE Sensex

18744.56

Major Support

18694 – 18447 – 18132

Major Resistance

18837 – 18942 – 19031


NSE Nifty

5632.10

Major Support

5612 – 5534 – 5441

Major Resistance

5659 – 5679 – 5706


The markets continue to trade sideways. They manage to stay afloat though the upside has been restricted with the resistance coming in from the falling trend line joining all the recent tops. It seems the markets are getting to ready for the good and the ugly as the earnings season starts next week. For today watch support for the Sensex @ 18694 and for the Nifty @ 5612 levels. On the higher side resistance comes in @ 18837 for the Sensex and 5659 for the Nifty. Till the indices hold on to supports the choppiness will continue. An extraordinary positive development will help the indices break past the resistance levels. Hold a scrip specific view….

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