Market View for Wednesday 02 Nov 2011

Index Levels

BSE Sensex 17480.83

Major Support 17422 – 17347 – 17189

Major Resistance 17661 – 17813 – 17908

NSE Nifty 5257.95

Major Support 5238 – 5220 – 5164

Major Resistance 5310 – 5360 – 5399


View
The markets witness hangover of the European crisis and continue their consolidation as the players seem to have disappeared at current levels. Lets not forget that the markets have moved above their trading range of Sept and Oct with a gap up opening on the last Friday. This surely is not a good sort of a breakout for any chart / price. Now if the markets have to continue the momentum then they need to test the breakout levels and move up again with strength. Till then the markets are expected to remain damp. For today watch support for the Sensex @ 17422 and for the Nifty @ 5238 levels. On the higher side watch resistance for the Sensex @ 17661 and for the Nifty @ 5310 levels. 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.