Market View for Monday 31 Oct 2011

Index Levels

BSE Sensex 17804.80

Major Support 17347 – 17189 – 17011

Major Resistance 17908 – 18121

NSE Nifty 5360.70

Major Support 5220 – 5164 – 5114

Major Resistance 5399 – 5475

View
The markets closed the week with big thumbs up. The first step towards the solution on the European crisis presented the first reason for the markets to rejoice that too after having gone through the ups and downs of the earnings season. The markets which were trading in a range for two months gave a breakout on Friday. The only negative about this breakout was the gap up opening. The indices opened with a 3% gap up and may start the coming week on a damp mood. They could also witness a correction to retest the breakout levels and the later direction could decide the fate for the markets in the coming few days. As they move forward from here the next big resistance comes in from the falling trend line joining all the tops from the all time high levels. For the coming week watch support @ 17189 for the Sensex and 5164 for the Nifty. If the markets survive these levels on a correction and then manage to move up then the bulls would gain control over the markets. On the higher side the indices should test levels of 17908 – 18121 for the Sensex and 5399 – 5475 for the Nifty. During this period scrip specific action is expected to continue. Hold a scrip specific view…

Market View for Thursday 20 Oct 2011

Index Levels

BSE Sensex 17085.34

Major Support 16984 – 16883 – 16669

Major Resistance 17107 – 17188 – 17211

NSE Nifty 5139.15

Major Support 5109 – 5080 – 5011

Major Resistance 5148 – 5160 – 5169


View
The markets opened with a gap up opening and managed to move up throughout the day to close on a strong note. This was mainly due to the bank stocks with major heavyweights supporting this move. At current levels the indices are trading just below crucial resistances. The volumes will remain low with choppy trade. For the Sensex support for the day comes in @ 16984 and for the Nifty @ 5109. On the higher side major resistance comes in @ 17188 – 17211 for the Sensex and 5160 – 5169 for the Nifty. If the indices manage to move up again then at higher levels they are expected to face a tough time. Hold a scrip specific view…

Market View for Tuesday 18 Oct 2011

Index Levels

BSE Sensex 17025.09

Major Support 16928 – 16836 – 16660

Major Resistance 17176 – 17191

NSE Nifty 5118.25

Major Support 5084 – 5057 – 5011

Major Resistance 5160 – 5168


View
The indices have been trading near the upper band of the current range. These are levels where the indices will face resistance and are expected to witness a correction. This period can also see the indices moving down to test supports at the lower end of the band. For today watch resistance @ 17176 for the Sensex and 5160 for the Nifty. On the lower side watch supports coming @ 16836 for the Sensex and 5057 for the Nifty. Hold a Low Profile…

Market View for Friday 14 Oct 2011

Index Levels

BSE Sensex 16883.92

Major Support 16854 – 16608

Major Resistance 17048 – 17084 – 17191

NSE Nifty 5077.85

Major Support 5067 – 5055

Major Resistance 5104 – 5130 – 5137


View
The markets witnessed a breather as they reached the upper band of the current range. The global cues too remained indecisive on the outcome of the Eurozone. In between the day we had the RBI governor coming out and speaking his mind making them volatile eroding the bunch of traders who tried to make a living. All announcements should be banned during market hours. At times it seems these people have positions in the market and to make them work in their favour they come out and make an announcement. Anyways we can only discuss nothing else. For today watch major resistance @ 17191 for the Sensex and 5137 for the Nifty. At these levels the indices would feel the heat. The choppiness is expected to be high with moments of despair with the volumes suddenly disappearing from the markets. On the lower side supports should be seen @ 16608 for the Sensex and 5055 for the Nifty. Hold a scrip specific view…

Market View for Thursday 13 Oct 2011

Index Levels
BSE Sensex 16958.39

Major Support 16809 – 16660 – 16608

Major Resistance 16987 – 17191

NSE Nifty 5099.40

Major Support 5055 – 5011 – 4997

Major Resistance 5109 – 5168


View
The markets cheered the Infosys numbers with a thumping close for the day yesterday. The indices have now reached near the higher end of the current range which exists at around 5150 – 5200 levels. These are the levels where the markets could feel the heat with the momentum drying and cautious trades entered. For the day watch support for the Sensex @ 16809 and for the Nifty @ 5055 levels. On the higher side resistance comes in @ 17191 for the Sensex and 5168 for the Nifty. Hold a scrip specific view….

Market View for Monday 03 Oct 2011

Index Levels
BSE Sensex 16453.76

Major Support 15801 – 15765

Major Resistance 16756 – 16865 – 17191

NSE Nifty 4943.25

Major Support 4758 – 4720

Major Resistance 5034 – 5068 – 5168


View
The markets closed the week on an indecisive note with weekly closing on candlestick patterns being a spinning top formation. The absence of triggers on the domestic and the global front have lead to a creation of a cautious mood with investors wanting to wait and watch the current developments. The sense of recession or may be the uneasiness of inflation is been felt by all. Let’s hope that the government gets time to think of things which are important in the current situation. Things like development, policies, infrastructure and many other things which a third world country needs to have before it could jump up the league. Nobody would buy the India Story with politicians filling their pockets without work happening on ground reality. It is also time that India showed the world that yes in India too justice is equal and stringent for people from all walks of life may it be a taxiwala or a corporate honcho or a big wig politician. Mein bhi Anna, Tub hi Ann, Hum sab hain Anna Anna – the energy now seems to have gone down. People forget fast in India. I wish that people said ‘ALL IS WELL’ and looked for opportunities which come our way through the Stock Assist and Trading Assist. As of levels watch supports coming in @ 15801 for the Sensex and 4758 for the Nifty. On the higher side resistance comes in @ 16756 and 5034 for the Sensex and the Nifty respectively. Between these levels the heavyweights would continue to drift with scrip specific action happening in side counters. Hold a scrip specific view. Wait for good opportunities and that is possible only if you have close watch on the opportunities which come your way on day to day basis. With ‘Intraday Action Viewer’ built inside PROFISION Pro – intraday trading has now become the simplest and the easiest thing to be done to make money. Give it a try and you will not regret. Happy Investing & Happy Educating!!!