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.
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