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!
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