Market View for Tuesday 01 Nov 2011

Index Levels

BSE Sensex 17705.01

Major Support 17668 – 17347 – 17189

Major Resistance 17813 – 17908 – 18121

NSE Nifty 5326.60

Major Support 5314 – 5220 – 5164

Major Resistance 5360 – 5399 – 5475


View
As expected the markets opened at the levels where they had closed and traded flat throughout the day. This was also on account of the Asian markets which were trading flat and dull. Today could also be another day like yesterday with the mood dampening announcement of a finance company filing for bankruptcy in the US. We need to remember that on Friday the markets have left a big gap when they opened higher. This gap has to be filled before a big rally can be witnessed in our markets. Scrip specific action is expected to continue during this period. Keep a close eye on the immediate supports. These if broken could trigger the markets falling down to fill the gaps. Watch them @ 17668 for the Sensex and 5314 for the Nifty. On the higher side resistance should be seen coming in from the high levels of yesterday which exist @ 17813 for the Sensex and 5360 for the Nifty. A breach of any of the levels mentioned could see the markets moving in that direction. Hold a scrip specific view…

Market View for Wednesday 21 Sep 2011

Index Levels BSE Sensex 17099.28

Major Support 16933 – 16768

Major Resistance 17135 – 17209 – 17256

NSE Nifty 5140.20

Major Support 5091 – 5042

Major Resistance 5149 – 5169 – 5229


View The markets opened flat and continued in the northward direction throughout the day. The markets seem to be now attracted towards the falling trendline which they has broken when they fell. These levels are @ 18200 for the Sensex and 5400 for the Nifty. Looking at the short term charts they suggest that the markets are making a higher top and higher bottom and the possibility of the above levels is high. For Wednesday one needs to watch major resistance @ 17256 for the Sensex and 5229 for the Nifty. If the indices open with a gap up opening then we could see them taking a breather. It is important to see the way the markets react at these resistance levels. On the lower side supports should be watched @ 16933 for the Sensex and 5091 for the Nifty. The global cue will surely have an effect on the days trade but at current levels with stocks not forming any price patterns it is advisable to search for opportunities on the intraday front. With Event Viewer built inside PROFISION PRO it is now easy to pick these opportunities. LIVING IN A JUNGLE WAS DIFFICULT BUT WITH THIS FEATURE WE CAN NOW EASILY BE TIGERS OF THE JUMP POUNCING ON OPPORTUNITIES WHICH COME TO US WITH A LOUD SOUND ‘EVENT’. Hold a scrip specific view… Happy Investing and Happy Educating!

Market View for Tuesday 16 Aug 2011

Index Levels

BSE Sensex 16839.63

Major Support 16759 – 16687

Major Resistance 17043 – 17246

NSE Nifty 5072.95

Major Support 5053 – 4947

Major Resistance 5133 – 5198

View
Wishing you a very happy Independence day. The global cues are positive for todays open and we expect a gap up opening. Along with the global markets the crude has also bounced back which is a negative for India. Therefore the probability of a confirmed trend for today will be seen only in the second half. This week we have only 3 trading sessions therefore we expect investors not to commit on either side of the markets. For today supports will be seen at 16759 and 5053 on the BSE Sensex and the NSE Nifty respectively. If we trade below these levels then we should witness a sell off to test the next support levels.