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.
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