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!!!