Market View for Wednesday 22 Jun 2011

BSE Sensex	17560.30
Major Support	17504 – 17314 – 17295
Major Resistance	17715 – 17925

NSE Nifty	5275.85
Major Support	5257 – 5195 – 5177
Major Resistance	5322 – 5372

The markets traded indecisive as the there was relief on the tax mans front related to the money routed through Mauritius. Most of the stocks traded sideways and this type of movement is expected to continue. For the day watch supports @ 17504 for the Sensex and 5257 for the Nifty. On the higher side resistance will be faced @ 17715 for the Sensex and 5322 for the Nifty. Between these levels the markets would remain choppy and dull. Avoid trading between these levels. Hold a low profile as individual stocks are not showing any signals for now.

Market View for Tuesday 21 Jun 2011

BSE Sensex	17506.63
Major Support	17314 – 17295
Major Resistance	17715 – 17925

NSE Nifty	5257.90
Major Support	5195 – 5177
Major Resistance	5315 – 5372

The markets sold off big way as the streets were full of news that the Tax man has finally got up from a long sleep over money routed through Mauritius. This brought the markets tumbling down breaking all the intraday supports. Now the Sensex has crucial support @ 17314 – 17295 and the Nifty has it @ 5195 – 5177 levels. On the higher side resistance comes in @ 17715 for the Sensex and 5315 for the Nifty. The markets could be gripped by weakness amidst these threads of news spreading through the media. The day could also see major sell off in stocks of companies having notorious backgrounds of laundering money via the Mauritius route. Choppiness will remain high and a gap down opening could also bring in surprise moves in the afternoon hours. Hold a Low Profile…

Market View for Friday 17 Jun 2011

BSE Sensex	17985.88
Major Support	17958 – 17786
Major Resistance	18060 – 18155

NSE Nifty	5396.75
Major Support	5389 – 5328
Major Resistance	5419 – 5447

The markets continued to sell off for the day. They started off with a gap down opening to trade sideways in the first half of the day. Among the heavyweights L&T was a contributor to the sell off witnessed in the Nifty. It is the last day of the week and the weakness is expected to continue. One observation of todays trading was that the indices closed below their crucial sentimental levels of 18000 for the Sensex and 5400 for the Nifty. The Sensex could itself falling from current levels to test supports @ 17786 and Nifty could see itself testing supports @ 5328 levels. On the higher side resistance will be faced @ 18060 by the Sensex and 5419 by the Nifty. Hold a Low Profile…

Market View for Thursday 16 Jun 2011

BSE Sensex	18132.24
Major Support	18111 – 18000 – 17786
Major Resistance	18298

NSE Nifty	5447.50
Major Support	5436 – 5400 – 5328
Major Resistance	5494

The markets sold off but continue to remain in narrow trading band moving southwards. With such a formation the markets are expected to sell off further from current levels. Some extraordinary positive development only can take the markets northwards for now. Investors are advised to track the stop losses of the stocks held in individual portfolios. For the Sensex watch resistance @ 18298 and for the Nifty @ 5494 levels. Below these resistances the indices will continue to trade weak. On the lower side the indices have major supports coming in from sentimental levels of 18000 for the Sensex and 5400 for the Nifty. These levels if cracked will see the indices falling straight to test supports @ 17786 and 5328 for the two indices respectively. It is advisable to hold a scrip specific view and concentrate on intraday trades that too like a TIGER…

Market View for Wednesday 15 Jun 2011

BSE Sensex	18308.66
Major Support	18261 – 18120
Major Resistance	18380 – 18545 – 18672

NSE Nifty	5500.50
Major Support	5484 – 5436
Major Resistance	5520 – 5570 – 5605

The markets continue to trade dull and in a narrow range throughout the day. For the last 10 trading sessions the markets have traded like this. A breakout from this band should help bring some energy back in the markets. For the Sensex watch support @ 18261 and for the Nifty @ 5484 levels. On the higher side resistance should be watched @ 18380 for the Sensex and 5520 for the Nifty. Between these levels the markets would remain choppy and dull. Hold a scrip specific view…

Market View for Tuesday 14 Jun 2011

BSE Sensex	18266.03
Major Support	18120 – 17786
Major Resistance	18313 – 18545 – 18672

NSE Nifty	5482.80
Major Support	5436 – 5328
Major Resistance	5496 – 5570 – 5605

The markets opened with a gap down opening later managing to recover to make new intraday highs eventually forcing shorts to run for cover. Overall on day end closing basis on candlestick patterns it was a spinning top formation. For the day watch support @ 18120 for the Sensex and 5436 for the Nifty. On the higher side an upmove would face resistance @ 18313 for the Sensex and 5496 for the Nifty. Hold a low profile…

Market View for Monday 13 Jun 2011

BSE Sensex	18268.54
Major Support	18182 – 17786 – 17469
Major Resistance	18545 – 18672 – 18724

NSE Nifty	5485.80
Major Support	5457 – 5328 – 5232
Major Resistance	5570 – 5604

The markets traded indecisive with the closing on week end charts being a spinning top formation. The current trend in the markets is due to lack of triggers which could make the markets swing. The next big trigger for the markets is the first quarter earnings which would start off in the next month. Till such time the markets are expected to remain sideways to weak. For the markets this week watch supports coming in @ 18182 for the Sensex and 5457 for the Nifty. On the higher side resistance should be watched @ 18545 for the Sensex and 5570 for the Nifty. In between these levels the markets will trade with dull activity. Hold a low profile for the week…