Index Levels
BSE Sensex 17118.74
Major Support 17096 – 16900 – 16744
Major Resistance 17233 – 17348 – 17391
NSE Nifty 5148.35
Major Support 5142 – 5085 – 5033
Major Resistance 5182 – 5217 – 5228
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The markets opened with a gap up opening taking cues from the global markets which were rejoicing the election of new PM in Italy. This move failed to survive as the markets buckled under pressure again from Metals and Banks. SBI was again hit today with doubts on recovery of loans given to Kingfisher Airlines. Gap up and Gap down openings will continue to cause of concern as the intraday moves will be dictated by positions held by traders. Weakness continues but there is one sign of hope for the markets as they continue to survive above the lows made on last Friday. These are major supports coming in @ 17096 for the Sensex and 5142 for the Nifty. If these levels are broken then there would major cause for worry as then the markets would be gripped by bears which would try and take it down to test the lows made in Sept and Oct. on the higher side resistance should be watched @ 17233 – 17348 for the Sensex and 5182 – 5217 for the Nifty. Expect a choppy session going ahead which would try and search for triggers from firstly the global and secondly the domestic developments. Intraday Action Viewer made a profit of Rs.39926.63 today. If you have not used do not know how to use this feature inside PROFISION PRO then call our support team on 020-66868686. Technical Analysis Guru – Mr.Kiran Jadhav has created magic with PROFISION PRO and you should take benefit of it. PRECISION TECHNICALS HAS REINVENTED INTRADAY TRADING. Use it to make money in these markets.
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