Index Levels
BSE Sensex 17478.15
Major Support 17382 – 17260 – 17117
Major Resistance 17529 – 17586 – 17687
NSE Nifty 5317.90
Major Support 5278 – 5251 – 5206
Major Resistance 5331 – 5361 – 5385
View
The markets traded indecisive with a spinning top formation on candlestick charts on the end of the day closing basis. Undercurrent remained positive with choppy trade. The same trend will continue for the next two days. Investors need to watch the recent lows as crucial supports because of the falling trend line level. Till these levels are intact there is no reason for one to panic. If the markets stay afloat they will rally in the days to come. The next week to witness the start of yearly earnings announcements. This could bring in high levels of choppiness in the markets. One should always remember that creativity is a very good thing but when it comes to the stock markets creativity is counted with money. Creativity with the knowledge of limits and clarity is important. Its your money and nobody can care about it then you yourself. For today hold a scrip specific view. The indices may not do much but scrip specific action will continue. Investors can come across a lot many stocks which are looking good for investment and these opportunities should be cashed in. With a spinning top formation on EOD basis the high and low would play an important role as support and resistance for today. Watch support @ 17382 for the Sensex and 5278 for the Nifty. On the higher side resistance should be watched @ 17529 for the Sensex and 5331 for the Nifty. Hold a scrip specific view… Patience not in terms of the great yogis but a little passive enthusiasm can do wonders in the stock markets. HAPPY INVESTING AND HAPPY EDUCATING!
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