BSE Sensex 16341.70
Major Support 16248 – 16155 – 16046
Major Resistance 16370 – 16690 – 16910
NSE Nifty 4898.80
Major Support 4871 – 4843 – 4808
Major Resistance 4910 – 5011 – 5078
The markets bounced in the noon hours after witnessing choppy trade in the morning to close in the green. After having witnessed a big sell off it is possible that the indices may try to recover some of the losses. This move has to be traded cautiously as the indices would continue to face pressure at all higher levels that they achieve in the intraday trade. The August derivative contracts are scheduled to expire on the coming Thursday and this could make the indices trade more or less near the current levels bringing in choppiness. Global cues will continue to rule the markets for now as the domestic front is busy fighting corruption. The government has to do a lot of things to bring in cheer. Lets hope for the best. For the Sensex watch support @ 16248 – 16155 and for the Nifty @ 4871 – 4843 levels. Above these levels the indices will try to gather strength and test the higher resistances. Major resistance will be faced @ 16690 by the Sensex and 5011 by the Nifty. Hold a low profile in terms of individual stocks. With expiry on the cards it is expected that it could bring in some good opportunities. Its time to be a tiger – wait for the right opportunity to pounce on. Happy Investing and Happy Educating!
