Market View for Friday 30 Sep 2011

Index Levels

BSE Sensex 16698.07

Major Support 16542 – 16387

Major Resistance 16756 – 16827 – 17191

NSE Nifty 5015.45

Major Support 4969 – 4924

Major Resistance 5034 – 5054 – 5168



View
The markets wanted a reason and they got it yesterday with the German’s approving a bail out for the European crisis. As I said it was just a reason wanted and which the markets got for yesterday and would have nothing to do with the markets for today. It is a new day and the markets would be searching for new triggers. Till then get something new and sizzling which could take them up further, expect the markets to sell off. Also let’s not forget it was expiry of September contracts which was one more reason for the rally yesterday. For the day watch resistance @ 16756 for the Sensex and 5034 for the Nifty. Below these levels the markets would continue to sell off and test support levels. On the lower side the markets could test 16387 for the Sensex and 4924 for the Nifty. Hold a scrip specific view…

Market View for Thursday 29 Sep 2011

Index Levels

BSE Sensex 16446.02

Major Support 16363 – 16289

Major Resistance 16554 – 16663 – 16827

NSE Nifty 4945.90

Major Support 4918 – 4905

Major Resistance 4975 – 5005 – 5054


View
The markets opened with gap up opening bullied by the strength witnessed in the markets day before yesterday and later on consolidated with choppy trade as the cues coming in from global markets remained mixed. Today is derivatives expiry for the September contracts and could be choppy. The global cues would also be something which the players would like to be watchful of as the developments from Europe are carefully watched. For the Sensex watch support @ 16363 and 4918 for the Nifty. On the higher side resistance comes in @ 16554 for the Sensex and 4975 for the Nifty. The markets could remain sideways and scrip specific action could be witnessed.

Market View for Tuesday 27 Sep 2011

Index Levels
BSE Sensex 16051.10

Major Support 15801 – 15765 – 15330

Major Resistance 16209 – 16513 – 16865

NSE Nifty 4835.40

Major Support 4758 – 4720 – 4538

Major Resistance 4879 – 4968 – 5068


View
The markets bounced back from intraday lows in highly volatile session. Stocks too displayed choppy trade. With the global cues being positive it is expected that our markets should also open with a gap up opening. This could also prove to be spoil spot for the markets cause with a gap up opening the later 3 hours of trade would be cautious and indecisive. For the Sensex watch support @ 15801 and for the Nifty @ 4758 levels. Above these levels the markets would hold for now. Hold a a scrip specific view…

Market View for Monday 26 Sep 2011

Index Levels

BSE Sensex 16162.06

Major Support 16052 – 15765 – 15330

Major Resistance 16513 – 16865 – 17191

NSE Nifty 4867.75

Major Support 4829 – 4720 – 4538

Major Resistance 4968 – 5068 – 5168


View The last week saw the markets selling off sending shivers as felt adrenaline of a double dip recession. The formation on charts is not good and therefore the cautiousness which we have been witnessing for the last few days could see a rise. The markets have one last hope before this theory of a double dip recession could actually grip the markets and that comes in from support levels @ 15330 for the Sensex and 4538 for the Nifty. These levels need to be watched closely for the coming few weeks. This week watch resistance @ 17191 for the Sensex and 5168 for the Nifty. Below these levels the indices would continue to trade weak and dull as they come across a trigger less day. This weakness could take the markets further down to test the supports mentioned above. Hold a scrip specific view….

Market View for Thursday 22 Sep 2011

Index Levels

BSE Sensex 17065.15

Major Support 17000 – 16933 – 16768

Major Resistance 17191 – 17209 – 17358


NSE Nifty 5133.25

Major Support 5109 – 5091 – 5042

Major Resistance 5168 – 5229


View
The markets opened flat and traded dull throughout the day. The movement too was very narrow range bound and the participation on front of market players remained low. Most of the stocks witnessed dull trade. This make also be on account of the indices reaching resistance levels in the short term. It is now important for us to watch resistance @ 17209 – 17358 levels for the Sensex and 5229 for the Nifty. On the lower side supports should be watched @ 17191 for the Sensex and 5109 for the Nifty. With range bound trade yesterday players should watch the highs and lows made yesterday as trend deciders for today. Hold a scrip specific view…

Market View for Wednesday 21 Sep 2011

Index Levels BSE Sensex 17099.28

Major Support 16933 – 16768

Major Resistance 17135 – 17209 – 17256

NSE Nifty 5140.20

Major Support 5091 – 5042

Major Resistance 5149 – 5169 – 5229


View The markets opened flat and continued in the northward direction throughout the day. The markets seem to be now attracted towards the falling trendline which they has broken when they fell. These levels are @ 18200 for the Sensex and 5400 for the Nifty. Looking at the short term charts they suggest that the markets are making a higher top and higher bottom and the possibility of the above levels is high. For Wednesday one needs to watch major resistance @ 17256 for the Sensex and 5229 for the Nifty. If the indices open with a gap up opening then we could see them taking a breather. It is important to see the way the markets react at these resistance levels. On the lower side supports should be watched @ 16933 for the Sensex and 5091 for the Nifty. The global cue will surely have an effect on the days trade but at current levels with stocks not forming any price patterns it is advisable to search for opportunities on the intraday front. With Event Viewer built inside PROFISION PRO it is now easy to pick these opportunities. LIVING IN A JUNGLE WAS DIFFICULT BUT WITH THIS FEATURE WE CAN NOW EASILY BE TIGERS OF THE JUMP POUNCING ON OPPORTUNITIES WHICH COME TO US WITH A LOUD SOUND ‘EVENT’. Hold a scrip specific view… Happy Investing and Happy Educating!

Market View for Tuesday 20 Sep 2011

Index Levels

BSE Sensex 16745.35

Major Support 16709 – 16374

Major Resistance 16865 – 17047 – 17122

NSE Nifty 5031.95

Major Support 5019 – 4911

Major Resistance 5068 – 5123 – 5143


View
The markets traded dull and sideways. The volumes remained low with market players staying on the sidelines. As for intraday trading it was an overall good day with some nice pattern formations happening on intraday charts. For Tuesday the markets would try and take cues from the American markets as they open and then the trade would mostly be dictated by the intraday positions. September derivatives expiry is expected to be a dull one. As of levels one needs to watch major support @ 16374 for the Sensex and 4911 for the Nifty. Till the indices manage to hold on to these levels the markets would continue to stay afloat. Without positive triggers from the American and the rest of the world markets our markets will continue to trade dull. If these supports are broken then expect the indices to crack sharply and could bring action back in the markets. Gap up and gap down openings could be a spoil sport for the opening trend in the markets. Be cautious and wait for the trend to be formed before entering a trade in the intraday. Investors as of now should wait for good opportunities to come their way. Hold a scrip specific view…

Market View for Monday 12 Sep 2011

Index Levels

BSE Sensex 16866.97

Major Support 16488 – 16451 – 16080

Major Resistance 17211 – 17829 – 18352

NSE Nifty 5059.45

Major Support 4942 – 4923 – 4806

Major Resistance 5169 – 5204 – 5369


View
The Ganesh festival brought some cheer as the markets saw the indices bouncing back after sell off in the last two weeks. Last week the markets traded indecisive on intraday trades inching higher with Friday being a dull day with short term resistances proving fatal as the markets sold off to close the day deep in the red. The main contributor for this sell off was State Bank of India which witnessed heavy sell off on Friday. Now for this wee watch support @ 16488 and 4942 for the Sensex and the Nifty respectively. Above these levels the indices would continue to ride their positive wave. On the higher side resistances should be watched @ 17211 and 5169 for the two indices. Choppiness would continue and it is better to hold a scrip specific view…

Market View for Friday 09 Sep 2011

Index Levels

BSE Sensex 17165.54

Major Support 16987 – 16922 – 16663

Major Resistance 17209 – 17256

NSE Nifty 5153.25

Major Support 5098 – 5080 – 4993

Major Resistance 5169 – 5197

View
The markets traded indecisive with players sticking to caution on account of the Obama speech scheduled to happen on Thursday in the US. The amwerican president sees the crisis and has big plans to win over the problems faced there. To be true just like our governments he also has tough face saving job to be done before facing elections. People had voted for change when Obama was elected and the only change which made possible was that Osama is not longer on hit list. Coming back to our markets remember the worlds problems are our opportunities. But it is also not that simple and easy. If our government fails to curb inflation, price rise and corruption it would eventually fail to bring in new reforms as the opposition will not allow doing so. And if the reforms do not see the light of the day then we could also be facing a tough time. But again same like the US for them to save their skin they will have to find ways out. For now the choppiness would continue as the movement in the markets is decided by the small news flows and the cues which come in from the global markets. For the Sensex watch support @ 16987 and for the Nifty @ 5098 levels. As the markets move up from the current levels they could face tough time to move further up. On the higher side major resistance comes in @ 17256 for the Sensex and 5197 for the Nifty. It’s the last day of the week and it is better to hold a Low Profile for today.

Market View for Thursday 08 Sep 2011

Index Levels

BSE Sensex 17065.00

Major Support 16922 – 16663 – 16488

Major Resistance 17157 – 17256

NSE Nifty 5124.65

Major Support 5080 – 4993 – 4942

Major Resistance 5154 – 5197

View
Our markets opened strong with stocks opening on the positive side. The fag end of the markets witnessed some pressure but overall the markets traded flat after opening strong. The participation was low and therefore the movement in most of the stocks was sluggish after the strong opening. Thursday could again be a sluggish day if the markets open with a gap up opening. If they open with a gap down opening then expect the markets to witness some movement. For the Sensex watch support @ 16922 and for the Nifty @ 5080. If the markets open above these levels and move down then we could witness a damp trade. On the higher side watch targets for the indices @ 17256 for the Sensex and 5197 for the Nifty. Hold a scrip specific view. Intraday is now easier with Event Viewer built inside PROFISION Pro. Take benefit of the short term moves using this feature. Medium to Long term investors need to make use of stocks picked by Technical Assist – Stocks inside PROFISION. Happy Investing and Happy Educating!!!

Market View for Wednesday 07 Sep 2011

Index Levels BSE Sensex 16862.81

Major Support 16663 – 16488

Major Resistance 16894 – 16989 – 17256

NSE Nifty 5064.30

Major Support 4993 – 4942

Major Resistance 5114 – 5197


View
Our markets opened flat and sold off in the initial hours this time weighed down by the European crisis. The late hours witnessed good recovery as the indices bounced back with the help of major heavyweights leading the rally. As mentioned yesterday the Indian markets have strength and will continue to display it without any negative side triggers coming in on the domestic or the global front. Slightest of positive news could gallop the markets further. All said and done the markets would continue to remain choppy in the intraday trade. For the indices watch support coming in from the lows made on Tuesday. These are the levels from where we witnessed a bounce back. For the Sensex watch support @ 16663 – 16488 and for the Nifty @ 4993 – 4942 levels. On the higher side resistance could be seen coming in @ 17256 for the Sensex and 5197 for the Nifty. Stocks should be tracked on intraday for now as the lives of the moves have become shorter. Investors should sit tight picking one off picks which come the way. Hold a scrip specific view…

Market View for Friday 02 Sep 2011

Index Levels

BSE Sensex 16676.75

Major Support 16585 – 16443

Major Resistance 16910 – 17256

NSE Nifty 5001.00

Major Support 4973 – 4927

Major Resistance 5078 – 5197

View

The markets bounced back second day in a row on Tuesday. This momentum is expected to continue further as the indices correct from the recent fall witnessed from 5700 to 4800 levels. In the intraday the markets could stay volatile depending upon the way they open. If we witness a gap up opening then the movement for the day could be halted and at the same time if they open with a gap down opening then we could witness a good move up. For now the major sell off seems to be arrested. Most of the negative flows have been built in the price and this month contracts could bring in good opportunities. For the indices watch support coming in from the lows made on Tuesday. For the Sensex it exists @ 16443 and for the Nifty @ 4927 levels. On the higher side resistance comes in @ 17256 and for the Nifty @ 5197. Hold a scrip specific view. DO NOT FORGET TO BE AN OPPORTUNIST…