Market View for Tuesday 24 Jan 2012

Index Levels

BSE Sensex 16751.73

Major Support 16667 – 16611 – 16573

Major Resistance 16788 – 17003

NSE Nifty 5046.25

Major Support 5025 – 5004 – 4991

Major Resistance 5064 – 5099


View
The markets traded sideways as players took to a cautious approach with RBI policy. Everybody is expecting nothing major to happen in the policy which comes up today. It is advisable that we wait for the policy to come out to enter trades. Choppiness could be high and the markets at current levels could also face pressure. Jan Derivatives expiry scheduled on coming Thursday will bring in a lot of indecisive volatility. For the day watch resistance @ 16788 – 17003 for the Sensex and 5064 – 5099 for the Nifty. Below these levels the markets would stay weak. On the lower side expect the indices to test all the supports as and when the indices crack the first level of supports mentioned in the above table.

Market View for Monday 23 Jan 2012

Index Levels

BSE Sensex 16739.01

Major Support 16412 – 16086 – 16037

Major Resistance 16788 – 17003

NSE Nifty 5048.60

Major Support 4946 – 4844 – 4827

Major Resistance 5064 – 5099


View
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Market View for Friday 20 Jan 2012

Index Levels

BSE Sensex 16643.74

Major Support 16573 – 16517 – 16384

Major Resistance 16662 – 16819 – 16847

NSE Nifty 5018.40

Major Support 4995 – 4977 – 4931

Major Resistance 5024 – 5037 – 5049


View
The indices opened in positive and stayed afloat throughout the day. The move up was capped as the indices have moved up significantly till now. At current levels the bulls could get cautious and that could bring in choppiness. Expect tough resistance coming in from current levels to a percent above from here. A gap up opening could see the indices moving sticky and such an open could also bring in some long unwinding in the overall markets. As of levels watch resistance for the Sensex @ 16819 and for the Nifty @ 5037 – 5049. On the lower side supports come in @ 16517 – 16384 for the Sensex and 4977 – 4931 for the Nifty. Today is a day to be extra cautious and it is advisable to enter trades of double confirmation.

Market View for Tuesday 17 Jan 2012

Index Levels

BSE Sensex 16189.36

Major Support 16086 – 16037 – 15962

Major Resistance 16214 – 16257 – 16354

NSE Nifty 4873.90

Major Support 4844 – 4827 – 4803

Major Resistance 4880 – 4898 – 4910


View
The markets bucked the trend in the European and the Asian markets. American markets were closed and therefore there were no cues coming in from that side of the world. Our markets which have witnessed lot of selling till now defied the trend and managed to stay afloat though with high levels of choppiness. The inflation numbers provide some spice for the markets. On Tuesday we would start off more or less on our own later to follow the trend in the European markets and the guidelines coming in from the American Futures. For the Sensex watch support @ 16086 – 16037 and for the Nifty watch it @ 4844 – 4827 levels. On the higher side resistance to come in @ 16257 – 16354 for the Sensex and 4898 – 4910 for the Nifty. Results season to bring in spiked moves in the market. As of now hold patience till the markets bring some nice opportunities for us to capitalize on.

Market View for Friday 13 Jan 2012

Index Levels

BSE Sensex 16037.51

Major Support 15962 – 15898 – 15678

Major Resistance 16178 – 16244 – 16354

NSE Nifty 4831.25

Major Support 4803 – 4771 – 4695

Major Resistance 4869 – 4877 – 4906


View
The markets closed on an indecisive note with the price forming a spinning top formation on candlestick charts. After the results Infosys witnessed a gap down opening and weakness continued throughout the day. The markets in general showed strength with the rest of index heavyweights holding the markets up. It is the last day of the week and the volumes are expected to remain very low. There are no cues coming in from the domestic and the global fronts and therefore the day could be dull. The earnings season should make the markets stay at the current levels one day up and the other day down. With indecisive patterns we should watch the highs and lows formed yesterday. For the Sensex watch supports @ 15962 and for the Nifty watch it @ 4803. On the higher side watch resistance @ 16178 for the Sensex and 4869 for the Nifty. Between these levels the markets would trade dull with players completely missing the direction. Wait for the European markets to open and see if they can provide any triggers for our markets. Hold a Low Profile.

Market View for Wednesday 11 Jan 2012

Index Levels

BSE Sensex 16165.09

Major Support 16031 – 15898

Major Resistance 16180 – 16354 – 16382

NSE Nifty 4849.55

Major Support 4810 – 4771

Major Resistance 4855 – 4906 – 4918


View
The markets moved above the range in which they were trading for the last one month. It was a bombastic move and therefore today the markets are expected to remain choppy. The volumes could be dull and the movements could be stock specific as the 3rd quarter earnings season starts. Tomorrow Infosys is scheduled to announce numbers and market players would like to wait with crossed fingers expecting Infosys to come out with some positive surprises. As of levels watch supports for the Sensex @ 16031 and for the Nifty @ 4810. Above these levels the markets should stay afloat and in the hands of the bulls. On the higher side major resistance comes in @ 16354 – 16382 for the Sensex and 4906 – 4918 for the Nifty. Hold a Scrip Specific View…

Market View for Friday 06 Jan 2012

Index Levels

BSE Sensex 15857.08

Major Support 15809 – 15789 – 15640

Major Resistance 15980 – 16004 – 16049

NSE Nifty 4749.95

Major Support 4730 – 4720 – 4675

Major Resistance 4779 – 4800 – 4839


View
The markets closed with an indecisive pattern on candlestick charts. The formation was Doji which tells us that the markets players are confused of the direction of the markets and therefore the highs and lows are important for deciding the further direction. With this view supports should be watched @ 15809 for the Sensex and 4730 for the Nifty. On the higher side resistance comes in @ 15980 for the Sensex and 4779for the Nifty. Between these levels the indecisive mood could continue. The volumes currently have dried up which sends a message that one needs to be cautious before entering a trade. Hold a low profile…

Market View for Thursday 05 Jan 2012

Index Levels

BSE Sensex 15882.64

Major Support 15822 – 15789 – 15640

Major Resistance 16004 – 16049 – 16133

NSE Nifty 4749.65

Major Support 4728 – 4720 – 4675

Major Resistance 4782 – 4800 – 4839


View
The markets traded sideways and indecisive as the global markets had nothing to stimulate and so did the domestic cues. Horrible volumes less than 50% of the normal traded volumes on the Indian bourses. People have money but the policy paralysis is taking a toll on the markets. Businessmen have forgotten that businesses are done with passion and not with egos. Come on the world is big and why make it small. I am personally fed up of the situation. Hope god gives brains to all. Sensex has a support @ 15822 and Nifty has it @ 4728 levels. On the higher side the resistance comes in @ 16004 for the Sensex and 4782 for the Nifty. With spinning top formations these levels will play an important role for the day. Hold a low profile.

Market View for Wednesday 04 Jan 2012

Index Levels

BSE Sensex 15939.36

Major Support 15789 – 15640

Major Resistance 15970 – 16049 – 16133

NSE Nifty 4765.30

Major Support 4720 – 4675

Major Resistance 4773 – 4800 – 4839


View
The markets traded on low volumes and continued to move up as the world markets gave positive vibes. This was a long awaited move of correction for the sold off market. Today the cues which come in from global markets are indecisive and therefore the markets are expected to remain sideways. The Sensex has a support @ 15789 and Nifty has it @ 4720. On then higher side resistance comes in @ 15970 for the Sensex and 4773 for the Nifty. Stocks are not showing any signs of bullishness or bearishness and therefore it is better to hold a low profile for the day.

Market View for Tuesday 03 Jan 2012

Index Levels

BSE Sensex 15517.92

Major Support 15358 – 15135

Major Resistance 15542 – 15694 – 15887

NSE Nifty 4636.75

Major Support 4588 – 4531

Major Resistance 4645 – 4690 – 4756


View
The markets traded with dizzy volumes and choppy moves as there were no cues coming from the global front with all the major stock exchanges closed on account of new year. Today the cues coming in are positive and our markets are expected to open gap up. This is something which markets players should be cautious of as this move if without volumes can fail. It is better to wait for extra confirmation and then enter a trade in such a market. Sensex has a support @ 15358 and Nifty has it @ 4588 levels. On the higher side next levels for the indices could be 15694 – 15887 for the Sensex and 4690 – 4756 for the Nifty. Hold a scrip specific view…