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
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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.
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