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
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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.
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