Market View for Friday 17 Feb 2012

Index Levels

BSE Sensex 18153.99

Major Support 18043 – 18000 – 17890

Major Resistance 18182 – 18231 – 18440

NSE Nifty 5521.95

Major Support 5483 – 5460 – 5377

Major Resistance 5531 – 5542 – 5552


View
The markets closed with an indecisive pattern on day end closing basis. The bullish mood continues with money flowing in one or the other stock. The financial problem started in the American economy in 2008 and in 2012 the stock markets there are hitting new highs. If the money keeps coming we too can hit a new high in a few days. For today if the markets open with a gap up opening then we could see the indices consolidating. For the indices watch resistance @ 18231 for the Sensex and 5542 for the Nifty. On the lower side watch supports @ 18000 for the Sensex and 5460 for the Nifty. Hold a scrip specific view…

Market View for Thursday 16 Feb 2012

Index Levels

BSE Sensex 18202.41

Major Support 18101 – 18000
Major Resistance 5496 – 5460


NSE Nifty 5531.95

Major Support 5496 – 5460
Major Resistance 18231 – 18440

View:

With the markets having taken energy pills they continued to sprint forward. With a gap up opening the markets continued to stay afloat throughout the day. It seems the money is still flowing in our markets making the stocks rally. With the global markets we could start subdued today but the buoyancy will continue. For the day watch resistance @ 18231 for the Sensex and 5542 for the Nifty. Below these levels the indices would consolidate. On the lower side today the indices can test supports @ 18101 for the Sensex and 5496 for the Nifty. Hold a scrip specific view…

Market View for Wednesday 01 Feb 2012

Index Levels

BSE Sensex 17193.55

Major Support 17079 – 16965 – 16828

Major Resistance 17238 – 17258

NSE Nifty 5199.25

Major Support 5162 – 5125 – 5076

Major Resistance 5215 – 5217


View
The markets showed strength as they witnessed a broad based rally. The quarterly numbers are almost through and the next big trigger for the markets leaving aside the cues coming in from Europe would be the Budget which is scheduled after the elections. This means till the Budget there would not be any negative trigger coming in on the domestic front and that could ensure that the strong hands make money in the short term. Consolidations would continue but the overall tendency of the markets could remain biased towards bullishness. For today expect the markets to trade sideways and choppy. As of levels watch support @ 17079 for the Sensex and 5162for the Nifty. On the higher side watch resistance @ 17238 – 17258 for the Sensex and 5215 – 5217 for the Nifty. Selling could come in at higher levels. Hold a scrip specific view…