Market View for Thursday 29 Dec 2011

Index Levels:

BSE Sensex 15727.85

Major Support 15666 – 15546 – 15472
Major Resistance 15854 – 15887 – 16049

NSE Nifty 4705.80

Major Support 4685 – 4636 – 4601
Major Resistance 4731 – 4756 – 4800


View:

The markets are expected to start off on a weak note taking cues from the US markets. The afternoon trade to be dictated by the European markets which will start at 1.30 pm. Today also is the December derivatives contracts expiry and that could bring volatility in the markets. For the Sensex watch resistance @ 15854 and for the Nifty @ 4731 levels. Below these levels the markets would remain weak and test further supports down the line. Hold a scrip specific view.

Market View for Tuesday 27 Dec 2011

Index Levels

BSE Sensex 15970.75

Major Support 15876 – 15782 – 15761

Major Resistance 15998 – 16068 – 16133

NSE Nifty 4779.00

Major Support 4748 – 4718 – 4693

Major Resistance 4787 – 4818 – 4839


View
The markets stayed afloat as the European and the American markets remained closed. The beaten down market got into correction mode with most of the stocks moving up. Today again is expected to be another day which if is not disturbed with an negative news flow would see the overall markets moving up. Small moves and dull activity could also be seen as witnessed yesterday. Holding a low profile this week is the best strategy for the week. For today watch support for the Sensex @ 15876 and for the Nifty @ 4748 levels. On the higher side the next targets for the markets could be 15998 – 16068 for the Sensex and 4787 – 4818 for the Nifty. As the markets move to the higher levels they could get cautious and therefore all positions should be held with strict stop losses.

Market View for Monday 26 Dec 2011

Index Levels

BSE Sensex 15738.70

Major Support 15440 – 15135 – 14684

Major Resistance 15911 – 16354

NSE Nifty 4714.00

Major Support 4623 – 4531 – 4353

Major Resistance 4763 – 4906


View
The markets witnessed choppy trade finally managing to close the week in the green but below the crucial levels below which it had broken in the earlier week. The close overall continues to remain because it failed to penetrate above the crucial level. This is the last week for the calendar year and with most players enjoying holidays could further see a slide in the trading volumes. It also happens to be yearly accounts closing for most of the foreign institutional players. It is said that the month of December sees a good closing because of accounts closing. This time could be different till we trade below the crucial levels. Major Resistance should be watched @ 15911 for the Sensex and 4763 for the Nifty. If the markets sustain above these levels then expect the markets to get into a consolidation phase. This could happen if the negative news flows stop coming in the markets. Europe continues to be a hanging sword on the markets. With elections scheduled in 5 states in the coming 3 months could further see a slide on the policy making process. This is a sentiment dampner for the markets. Also starting January we would witness earnings numbers for the 3rd quarter flowing in and that could bring in all kind of moods back – good, bad and ugly. From the earnings witnessed till now they do not seem to favour any spicy treat for the markets. The next big trigger for the markets would be budget and I wish the decision makers do give some life to the markets through a good budget. Lets hope for the best.

Market View for Tuesday 20 Dec 2011

Index Levels

BSE Sensex 15379.34

Major Support 15190 – 14684

Major Resistance 15440 – 15923 – 16354

NSE Nifty 4613.10

Major Support 4555 – 4538 – 4353

Major Resistance 4623 – 4779 – 4906


View
The markets traded sideways moving up and down with the final volatility being added by the European markets. The movement is expected to remain same throughout the month. Our markets now need domestic triggers which would help them move as per our own sentiments. This could also bring in good trading markets. Till such a time expect volatility to stay. Today watch support @ 15190 for the Sensex and 4555 for the Nifty. These are the levels from where the markets witnessed a rebound. These levels now will play a crucial role as important supports. Above these levels the beaten down markets would try to enjoy a breather. Upsides could be limited to 15923 for the Sensex and 4779 for the Nifty. Lets not forget that after the breakdown the markets have not tested back those levels and that’s what will happen today or tomorrow. The moves will be decided as per the market’s reaction when it reaches these levels. Scrip specific action to continue.

Market View for Monday 19 Dec 2011

Index Levels

BSE Sensex 15491.35

Major Support 15425 – 15330 – 14684

Major Resistance 15923 – 16354

NSE Nifty 4651.60

Major Support 4628 – 4538 – 4353

Major Resistance 4779 – 4906


View
The markets closed on a weak note as the RBI failed to give vitamins to the energy stripped markets. Europe crisis continue to loom over the markets as we continue to trade with lot of weakness and a lot negative sentiments going round and round on the business channels and newspapers. The charts of the major world indices suggest that the American markets are better placed than the rest of the markets in the world. Out of the two pillars which support the sentiments in India – US and Europe only one is facing a major problem as of now. This is a positive for the markets. The domestic cues continue to remain subdued but with the markets as a whole are trading in oversold territories. The markets this week are mostly expected to trade duckish with small moves and dull trades with low volumes. Scrip specific action would continue but risk would remain very high. Watch immediate supports for the Sensex @ 15425 and for the Nifty @ 4628 levels. These are major face saving levels for the two indices. If these levels hold then the indecisive sentiment would continue. Only a breakout below these levels would bring in big moves in the markets. As of resistance levels for the Sensex watch it @ 15923 and for the Nifty @ 4779 levels. Follow Intraday Action Viewer to make money in the intraday markets.

Market View for Friday 16 Dec 2011

Index Levels

BSE Sensex 15836.47

Major Support 15596 – 15479

Major Resistance 15908 – 16133

NSE Nifty 4746.35

Major Support 4673 – 4639

Major Resistance 4768 – 4839


View
The market direction is expe ted to be decided by the guidance coming out of the RBI policy today. More or less the markets are expected to remain stock specific and on the RBI policy.

Market View for Wednesday 14 Dec 2011

Index Levels
BSE Sensex 16002.51

Major Support 15890 – 15778 – 15645

Major Resistance 16079 – 16354

NSE Nifty 4800.60

Major Support 4767 – 4733 – 4693

Major Resistance 4824 – 4906


View
The markets traded choppy going up then down and finally a surprise move up in the closing trade. The markets were undecided as to the direction after the sell off on Monday. Today’s move could also be termed as a breather. The markets are trading on crucial supports coming in from levels of Aug, Sept, Oct and November 2011. These levels need to be watched closely as till the time the markets stay around these levels they would trade choppy. Wednesday to see the IIP numbers coming in and that could be a trigger for the markets after the noon hours. But till then the markets are expected to trade dull and lack luster. Hold a scrip specific view…

Market View for Tuesday 13 Dec 2011

Index Levels

BSE Sensex 15870.35

Major Support 15839 – 15478

Major Resistance 16112 – 16354

NSE Nifty 4764.60

Major Support 4755 – 4639

Major Resistance 4835 – 4906


View
The IIP data took it toll on the markets with the indices sinking deep in the red. With the American closing in the negative and the Asian markets too trading in the red our markets are expected to open in red. A relief rally could be on cards which could be a small one and on intraday basis. The trend continues to be down for now. For the Sensex watch support @ 15389 and for the Nifty @ 4755. On the higher side resistance comes in @ 16112 and 4835 for the Sensex and the Nifty respectively. Hold a scrip specific vew…

Market View for Monday 12 Dec 2011

Index Levels

BSE Sensex 16213.46

Major Support 16142 – 15890 – 15478
Major Resistance 16512 – 16812 – 17003

NSE Nifty 4866.70

Major Support 4841 – 4769 – 4639
Major Resistance 4951 – 5036 – 5099


View
The European leaders arrive at a mild solution for the crisis. We should ideally not be calling it as a solution but we can call it as a direction towards the solution. So finally the curtains are down and there were no negative vibes coming from Brussels last week. This should not help people now bring their focus back to India and players would now try to search for triggers on the domestic front. With the lack of triggers our markets could become dull again. But technically strong stocks will continue to show movements and those moves should be looked as opportunities in these markets. For the Sensex watch support @ 16142 and for the Nifty @ 4841 levels. Above these levels the markets would continue to trade cautious as it moves up. These are important supports above which markets would survive the bears. On the higher levels resistance could come in @ 16512 for the Sensex and 4951 for the Nifty. Breakout below supports could trigger a sell off. Hold a scrip specific view…

Market View for Friday 09 Dec 2011

Index Levels

BSE Sensex 16488.24

Major Support 16421 – 16179 – 15996
Major Resistance 16653 – 16819 – 16847

NSE Nifty 4943.65

Major Support 4921 – 4851 – 4799
Major Resistance 4990 – 5037 – 5049


View

The markets feel the heat as players become cautious with the Euro meet scheduled today and tomorrow. It is make or break time for the Euro zone and along with it all the global markets round the world. If the Euro zone is not saved then a lot of hidden facts will come to surface and send our markets spiraling down to achieve all the analyst expectations. And if it is saved then there could be a crazy gap up opening for the markets which would sustain till the outcome is justified. This means that with a positive outcome we should ideally be able to hold a major sell off. It would not be able to improve the balance sheets immediately but could help in improving the sentiment and would act as a new sign of hope. This could also see the comeback of participants who have been sitting on the sidelines for a lot many days now. For the Sensex resistance comes in @ 16653 and for the Nifty @ 4990 levels. Below these levels and before we have the details of the outcome of the Euro leaders meet the markets would remain under pressure. Weakness could take the markets down to test all the supports mentioned. A gap down opening should be traded carefully as there are chances that with a gap down opening the markets could move into a sideways band and later in the noon decide its direction as the European markets open. As for stocks continue have positions with strict stop loss. Make use of Intraday Action Viewer built in PROFISION PRO.

Market View for Thursday 08 Dec 2011

Index Levels

BSE Sensex 16877.06

Major Support 16781 – 16691 – 16670
Major Resistance 17003 – 17081

NSE Nifty 5062.60

Major Support 5032 – 5002 – 4995
Major Resistance 5099 – 5158


View

The markets traded indecisive and closed with a spinning top formation on candlestick charts. To start off the markets started strong but as the European markets failed to show strength our markets too gave some of the gains from the highs of yesterday. For today the markets would remain cautious before the crucial Euro zone meet coming up tomorrow. Dull activity to continue for today and tomorrow. As of levels watch support for the Sensex @ 16781 and for the Nifty @ 5032 levels. On the higher side resistance should be watched @ 17003 for the Sensex and 5099 for the Nifty. Hold a low profile…

Market View for Friday 02 Dec 2011

Index Levels

BSE Sensex 16483.45

Major Support 16430 – 16179

Major Resistance 16718 – 16807

NSE Nifty 4936.85

Major Support 4916 – 4851

Major Resistance 5011 – 5036


View
The markets witnessed a euphoric opening as they opened 2 to 3% higher. After this big opening the bull strength fizzled out and the markets traded sideways throughout the day. The choppiness was high and the strength failed to continue at higher levels. The markets have left a big gap with yesterdays trade and this would make the markets trade sideways and choppy for a few days from here. For today watch resistance @ 16718 for the Sensex and 5011 for the Nifty. On the lower side supports should be seen @ 16430 for the Sensex and 4916 for the Nifty. Hold a Low Profile…

Market View for Thursday 01 Dec 2011

Index Levels

BSE Sensex 16123.46

Major Support 15996 – 15868

Major Resistance 16197 – 16210 – 16297

NSE Nifty 4832.05

Major Support 4799 – 4766

Major Resistance 4851 – 4864 – 4873


View
The markets opened with a gap down opening taking cues from the Asian markets which were trading deep in the red. Our markets managed to move up from the intraday lows swinging both sides during the day to close more or less flat if compared to the earlier day closing. For today the markets are expected to open with a gap up opening. After such a opening normally the markets enter a sideways move to finally decide a direction in the last hours of trade. It is better that traders do not jump into a trade without proper discipline. Watch support for the Sensex @ 15996 and for the Nifty @ 4799 levels. On the higher side the next targets could be 16210 – 16297 for the Sensex and 4864 – 4873 for the Nifty. But at higher levels it is better to be cautious.