Market View for Monday 06 Aug 2012





Index Levels

BSE Sensex 17197.93

Major Support 17058 – 16919 – 16598
Major Resistance 17291 – 17449 – 17631




NSE Nifty 5215.70
Major Support 5172 – 5129 – 5032
Major Resistance 5246 – 5283 – 5348





View

Last week one clear observation in the markets was the undercurrent. Every time the markets cracked they found support and moved up again. If the markets continue to move up from here then it would be a good sign confirming a higher bottom on short term charts. Going forward for the markets to confirm this, the markets have to move beyond resistance @ 17631 for the Sensex and 5348 for the Nifty. The charts suggest that the markets ideally should not crack and good money should keep coming in. This could be proved wrong only if the markets crack the recent lows of around 5000 done by the Nifty. So till such a time hold a scrip specific view. Happy Investing & Happy Educating!







Market View for Friday 03 Aug 2012




Index Levels

BSE Sensex 17224.36

Major Support 17157 – 17004 – 16919
Major Resistance 17245 – 17291 – 17342


NSE Nifty 5227.75

Major Support 5209 – 5154 – 5129 
Major Resistance 5237 – 5246 – 5267






View

The markets traded indecisive and range bound throughout the day yesterday. The indices have reached a major resistance from the gap that they had left in the mid of last month. Below this level the indices would stay choppy to weak. The opening today is expected to be weak. The cues coming in from the global markets are of weakness and Europe is something which could provide direction for the market today. Till noon the markets are expected to trade after opening. A day to hold a low profile till confirmed moves are signaled. For the markets to rally they have to cross levels of 17342 for the Sensex and 5267 for the Nifty. Happy Investing & Happy Educating!