Market View for Tuesday 29 Nov 2011

Index Levels

BSE Sensex 16167.13 |

Major Support 16028 – 15890

Major Resistance 16297 – 16396

NSE Nifty 4851.30

Major Support 4810 – 4769

Major Resistance 4873 – 4915


View
The markets rejoiced as the first half was lead by the Asian markets which rallied by 2% and in the later part of the day the markets rallied with the help from European markets. With this jump the markets have managed to get back into the trading range of the last 4 months. Any sell off if now manages to hold between this range then our markets would be heading towards the upper end of this range in the coming two months. The market honchos have been advocating that a sell off will take the markets further down by 10 to 15%. There are a lot of positions which happen to be on the short side as analysts on all media channels preached a sell off. This too happened at a time when the new month contracts started to trade. During this new contract month if we have the markets staying in between the trading range then the later half of the month could see them running to cover their positions. For Tuesday watch support for the Sensex @ 16028 and for the Nifty @ 4810 levels. If the markets stay above these levels then they could see a move to test the resistances mentioned in the above table. Investors should lookout for nice pattern formations to come up in the Stock Assist. As for short term opportunity seekers take benefit of the Intraday Action Viewer built inside PROFISION PRO to pick the best opportunities in trading. It is now time to be a TIGER in the stock markets. If You Have Not Used The Intraday Action Viewer And Want Information On It 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.