Market View for Wednesday 10 Aug 2011

BSE Sensex 16857.91

Major Support 16681 – 16500

Major Resistance 17000 - 17300


NSE Nifty 5072.85

Major Support 4935 – 4900 – 4862

Major Resistance 5150 – 5200


The markets once again taking global cues opened with a huge gap down, mid day we saw a good pullback which took the indices in the green only to let the markets go back to close the day in red. We are seeing some kind of support at lower levels. After so many days of volatile sessions we expect the day to be calm today with a minor see-saw. Again the volumes recorded were also very high. For today supports will be seen at 16681 – 16500 and 5000 - 4946 on the BSE Sensex and the NSE Nifty respectively. Investors who have already sold should stay away from the markets.

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