Index Levels
BSE Sensex 16882.67
Major Support 16837 – 16669 – 16510
Major Resistance 16982 – 17081 – 17172
NSE Nifty 5068.50
Major Support 5052 – 5011 – 4964
Major Resistance 5099 – 5131 – 5158
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The markets started the day on a dull note with most of the stocks trading sideways till the opening of the European markets. After 2 pm the markets witnessed a big sell off with all the stocks breaking their trading range for the day. The European markets cracked along with us with doubts on the recovery and fears of a recession. With today’s close the markets have cracked the crucial support and have entered back into the trading range of Sept and Oct. This now means firstly the indices would face resistance at the levels which they were taking at and secondly they would now try to test the lowers supports or the lower end of the range. The levels which would now act as resistance are 17081 – 17172 for the Sensex and 5131 – 5158 for the Nifty. Below these levels the weakness would continue with the bears winning over the bulls on most of the days. Gap up and gap down openings would be a cause of worry as the trend will be dictated by the positions held by traders. Global cues will continue to remain important for the markets as the next big triggers coming in on domestic front would be the tabling of policies in the winter season. Keep a close eye on Intraday Action Viewer to pick the best opportunities in trading. Time to be a TIGER in the stock markets. Intraday Action Viewer made a profit of Rs.5032.58 on Tuesday. 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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