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….
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