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.
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