Major Support 16560 – 16318
Major Resistance 17000
NSE Nifty 5118.50
Major Support 4935 – 4900 – 4862
Major Resistance 5150
The markets opened with a big down gap yesterday, mid day we saw a good pullback which was to fool the investors at large. Finally the supply overpowered the demand as mentioned in yesterdays news letter. Again the volumes recorded were also very high. For today supports will be seen at 16318 and 4862 on the BSE Sensex and the NSE Nifty respectively. Investors who have already sold should stay away from the markets. Traders should use every rise to short with a momentum view.
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