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…
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