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
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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…
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