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…
No comments:
Post a Comment