Major Support 18219 – 18131
Major Resistance 18440 – 18571 – 18708
NSE Nifty 5516.80
Major Support 5486 – 5453
Major Resistance 5551 – 5588 – 5631
The markets opened with a gap up opening amidst news of a solution on the US debt issue. Our markets after opening up witnessed pressure which made them move up and down eventually closing with a spinning top formation on candlestick patterns. This formation signifies indecision with players waiting for the actual trigger. For Tuesday market players would be all glued to the American markets busy interpreting the announcements which come out. This is an immediate trigger and a direction decider for the markets. As of levels watch support for the Sensex @ 18219 and for the Nifty @ 5486 levels. On the higher side resistance comes in @ 18440 for the Sensex and 5551 for the Nifty. The indices would decide their direction on breach of any of the above levels. Scrip specific action will continue in the markets.
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