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…
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