Market View for Friday 30 Mar 2012

Index Levels

BSE Sensex 17058.61

Major Support 17008 – 16920 – 16828

Major Resistance 17109 – 17245 – 17366


NSE Nifty 5178.85

Major Support 5135 – 5076

Major Resistance 5194 – 5236 – 5277


View

The markets witnessed the March expiry on a dull note. The markets traded sideways and so did most of the stocks. The mont of April is full of triggers like earning numbers, RBI policy etc. Today is the last day of the week and should play an important role in deciding the trend for the new contract month. The indices have closed near recent lows / bottoms. This is an important level which all need to watch closely. This makes todays closing which also is the weekly closing an important close. Levels mentioned above can be tracked as important supports and resistances. Gap up gap down opening can prove to be a spoil sport. But for the day and intraday positions keep a track of Intraday Action Viewer.

Market View for Thursday 29 Mar 2012

Index Levels

BSE Sensex 17121.62

Major Support 17040 – 17021 – 17008

Major Resistance 17245 – 17366 – 17458


NSE Nifty 5194.75

Major Support 5170 – 5076

Major Resistance 5236 – 5277 – 5312


View

The markets traded yesterday subdued with expiry on cards today. Today is expected to be a same day. For today watch support @ 17040 and for the Nifty @ 5170. On the higher side for the Sensex watch resistance @ 17245 and 5236 for the Nifty. Supports to be watched closely for the day. If these are broken then expect a major sell off to happen. But choppy activity at these levels should be handled with care. Hold a Low Profile..

Market View for Wednesday 28 Mar 2012

Index Levels

BSE Sensex 17257.36

Major Support 17061 – 17021 – 17008

Major Resistance 17377 – 17458 – 17586


NSE Nifty 5243.15

Major Support 5184 – 5174 – 5171

Major Resistance 5278 – 5312 – 5385


View

The markets closed on an indecisive note with a DOJI formation on daily charts. With expiry tomorrow the markets are expected to continue trading in the same way. Anything if happens should be expected only on Friday after the March derivative contracts expire. For today the highs and lows of yesterday would play an important role. Support comes in @ 17061 for the Sensex and 5184 for the Nifty. On the higher side resistance comes in @ 17377 for the Sensex and 5278 for the Nifty. Hold Of Low Profile…

Market View for Tuesday 27 Mar 2012

Index Levels

BSE Sensex 17052.78

Major Support 17021 – 17008

Major Resistance 17215 – 17377

NSE Nifty 5184.25

Major Support 5174 – 5171

Major Resistance 5229 – 5274


View
The markets sold off amidst choppy trade and scrip specific activity. This is an expiry week and therefore the markets are expected to stay choppy we enter the new contracts. With a gap up opening the markets should be handled with care cause with such a move usually the markets tend to enter a sideways move for the rest of the day. Today could be a day of relief for the markets and a breather is insight. The current short term charts suggest that the markets have made a lower top and thus the levels of 17008 for the Sensex and 5171 for the Nifty are important supports. If these levels are broken then in the short term we would make a lower bottom thus suggesting that in the immediate short term the markets have entered a down trend. Till such a time we can surely think of longs. On the higher side resistance exists @ 17215 – 17377 for the Sensex and 5229 – 5274 for the Nifty. Hold a Low Profile…

Market View for Thursday 22 Mar 2012

Index Levels

BSE Sensex 17601.71

Major Support 17451 – 17301

Major Resistance 17622 – 17656 – 17871


NSE Nifty 5364.95

Major Support 5316 – 5267

Major Resistance 5372 – 5380 – 5445


View

The markets started the trade on a dull note eventually rallying to close the day with good gains. With such a big move witnessed yesterday we could see the indices trading more or less flat for today. For the Sensex watch support @ 17451 and for the Nifty @ 5316. On the higher side watch resistance @17622 for the Sensex and 5372 for the Nifty. Hold a scrip specific view…

Market View for Wednesday 21 Mar 2012

Index Levels

BSE Sensex 17316.18

Major Support 17211 – 17008

Major Resistance 17410 – 17531

NSE Nifty 5274.85

Major Support 5233 – 5171

Major Resistance 5297 – 5337


View

The markets traded indecisive to close with a spinning top formation. The markets drifted in the first half of the trade to eventually witnessing good amount of buying in the later hours of trade. Today is expected to be same again with dull activity. For today watch support for the Sensex @ 17211 and for the Nifty @ 5233 levels. On the higher side watch resistance @ 17410 for the Sensex and 5297 for the Nifty. The markets are expected to stay between these levels.

Market View for Tuesday 20 Mar 2012

Index Levels

BSE Sensex 17273.37

Major Support 17226 – 17008

Major Resistance 17402 – 17531

NSE Nifty 5257.05

Major Support 5238 – 5171

Major Resistance 5297 – 5337

View
The markets continued to drift downwards throughout the day. the action remained dull and today is expected to remain the same with sideways and choppy activity. For the Sensex watch resistance @ 17402 and for the Nifty @ 5297 levels. Below these levels the markets would trade weak and the would try and test supports @ 17226 – 17008 for the Sensex and 5238 – 5171 for the Nifty. Hold a low profile with no stocks showing any patterns on day end closing basis. For intraday wait for good picks in Intraday Action Viewer.

Market View for Monday 19 Mar 2012

Index Levels

BSE Sensex 17466.20

Major Support 17426 – 17008 – 16828

Major Resistance 17619 – 17772 – 18040


NSE Nifty 5317.90

Major Support 5305 – 5171 – 5063

Major Resistance 5369 – 5420 – 5499

View

The markets were disappointed with the budget. They cracked on Friday with selling coming in at the fag end of trading hours. Overall the budget was a flat one with no major positive or negative sides to it. This could be taken by global investors positively with hurdles now crossed and no negative triggers the flow of money should continue. The next big trigger for the markets is the yearly numbers which will be announced in 20 days time. The indices have closed with bearish candles for the week but they continue to survive above the trend line support. This is an extreme positive for the markets. With this trend line surviving as a major support we could see the markets rallying further. The view will change only if we are surprised on the global front which brings in selling and breaks below this support. Till such a time one can stick to stock specific action. For the Sensex watch support @ 17008 and for the Nifty @ 5171. On the higher side watch resistance @ 17619 for the Sensex and 5369. A move above these levels will confirm our above view of selling observed on Friday to be a temporary one. Till such a time one should continue to trade with strict stop losses.

Market View for Thursday 15 Mar 2012

Index Levels

BSE Sensex 17919.30

Major Support 17837 – 17680 – 17494

Major Resistance 18040 – 18198 – 18249


NSE Nifty 5463.90

Major Support 5437 – 5391 – 5327

Major Resistance 5499 – 5521 – 5537


View

The markets have been witnessing gap up opening for the last 4 trading sessions. And due to the cautious optimism in the markets mercy the Union Budget scheduled on Friday after a buoyant opening the trading has remained choppy with scrip specific activity. With global cues continuing to be strong our markets would continue the current pattern of their moves. This is expected to happen till Friday when everybody would be glued to the television sets to interpret the Union Budget. for the day watch support for the Sensex @ 17837 and for the Nifty @ 5437 levels. On the higher side resistance should be watched @ 18040 for the Sensex and 5499 for the Nifty. Till the markets stay above the supports expect the mood to stay bullish. Hold a scrip specific view…

Market View for Wednesday 14 Mar 2012

Index Levels

BSE Sensex 17813.62

Major Support 17680 – 17494 – 17414

Major Resistance 17842 – 18001 – 18198

NSE Nifty 5429.50

Major Support 5391 – 5327 – 5294

Major Resistance 5438 – 5458 – 5521


View

Watch IIP numbers which will be announced. The bullishness is expected to continue. The markets are expected to open with a gap up opening. Scrip specific action is expected to continue throughout the day with choppy activity in the overall market. For the Sensex watch support @ 17680 and for the Nifty @ 5391 levels. On the higher side resistance exists @ 17842 for the Sensex and 5438 for the Nifty.

Market View for Tuesday 13 Mar 2012

Index Levels

BSE Sensex 17587.67

Major Support 17494 – 17325 – 17008

Major Resistance 17772 – 18001

NSE Nifty 5359.55

Major Support 5327 – 5294 – 5171

Major Resistance 5421 – 5458


View

The markets are expected to stay calm as market players get ready for the Budget this week. Till the time the lows made on the last Wednesday are broken the market would continue to stay afloat moving up slowly. For the Sensex support should be watched @ 17494 and for the Nifty @ 5327 levels. On the higher side the resistance should be watched @ 17772 for the Sensex and 5421 for the Nifty. At higher levels the markets would face difficulty sustaining. Choppy trade will continue. Hold a scrip specific activity.

Market View for Friday 09 Mar 2012

Index Levels

BSE Sensex 17145.52

Major Support 17008 – 16828

Major Resistance 17239 – 17336 – 17691


NSE Nifty 5220.45

Major Support 5171 – 5076

Major Resistance 5243 – 5266 – 5382


View

The Greece overhang seems to be nearing a positive end bringing in cheer in the global markets. on the domestic front the next big trigger is the monetary policy and the Union budget coming up in the next week. The indices have witnessed a 10% correction till now. The cues coming in from the Pre opening is that the markets would open with a gap up. This is something which players should be cautious of as the markets would find it difficult in sustaining to the gains with such a opening. There can be exceptions and therefore entering trades on confirmations is advisable. For the Sensex watch support @ 17008 and for the Nifty @ 5171 levels. On the higher side the markets could test levels mentioned above as resistance. Scrip specific action will continue.

Market View for Wednesday 07 Mar 2012

Index Levels

BSE Sensex 17173.29

Major Support 17128 – 17061 – 16965 – 16828

Major Resistance 17336 – 17691


NSE Nifty 5222.40

Major Support 5206 – 5159 – 5125 – 5076

Major Resistance 5266 – 5382


View

The markets sold off amidst a choppy session as the election results kept coming during the day. After a sell off the markets witnessed a rally to finally give way by the end of the session. The weakness is expected to continue even today. Choppiness could continue with the overall picture very gloomy on the domestic as well as global front. A surprise could now be from the RBI policy or the success of Greece in avoiding default or the Union Budget which comes up next week. If the markets fail to have some surprises then expect them to continue their correction to deepen. It is a good idea to hold a scrip specific view. For the Sensex today watch resistance @ 17336 and for the Nifty @ 5266 levels. On the lower side supports come in @ 17061 – 16965 for the Sensex and 5159 – 5125 for the Nifty. Below the resistance levels expect the indices to test supports mentioned above.

Market View for Friday 02 Mar 2012

Index Levels

BSE Sensex 17583.97

Major Support 17463 – 17381

Major Resistance 17714 – 17919 – 18001


NSE Nifty 5339.75

Major Support 5297 – 5268

Major Resistance 5372 – 5424 – 5458


View

The markets traded choppy and indecisive throughout the day. Though the buying was missing so was the selling which did not continue for long. The choppy trade continued with stocks as well. With lack of triggers and major events coming in the next two weeks the markets are expected to trade dull and sideways. For the Sensex watch support @ 17463 and for the Nifty @ 5297 levels. On the higher levels Sensex has a resistance @ 17714 and Nifty has it @ 5372 levels. Hold a scrip specific view.

Market View for Thursday 01 Mar 2012

Index Levels

BSE Sensex 17752.68

Major Support 17677 – 17638 – 17545

Major Resistance 17919 – 18001 – 18198



NSE Nifty 5385.20

Major Support 5352 – 5343 – 5310

Major Resistance 5424 – 5458 – 5479


View

The markets traded choppy with low volumes as the players face tough GDP numbers. Falling growth did subdue the markets but did not materialize into a sell off. The trend is expected to continue today again. Supports should be watched @ 17677 for the Sensex and 5352 for the Nifty. On the higher side resistance should be watched @ 17919 for the Sensex and 5424 for the Nifty. Election results for UP, RBI policy, Union Budget, Greece are some events which have started inducing indecisiveness in the markets. As these events are completed the markets should decide its direction. Therefore this is a period to keep your bull horns and bear tails in the closet. Enjoy a low profile till we have clarity on these issues.