Market View for Wednesday 07 Sep 2011

Index Levels BSE Sensex 16862.81

Major Support 16663 – 16488

Major Resistance 16894 – 16989 – 17256

NSE Nifty 5064.30

Major Support 4993 – 4942

Major Resistance 5114 – 5197


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Our markets opened flat and sold off in the initial hours this time weighed down by the European crisis. The late hours witnessed good recovery as the indices bounced back with the help of major heavyweights leading the rally. As mentioned yesterday the Indian markets have strength and will continue to display it without any negative side triggers coming in on the domestic or the global front. Slightest of positive news could gallop the markets further. All said and done the markets would continue to remain choppy in the intraday trade. For the indices watch support coming in from the lows made on Tuesday. These are the levels from where we witnessed a bounce back. For the Sensex watch support @ 16663 – 16488 and for the Nifty @ 4993 – 4942 levels. On the higher side resistance could be seen coming in @ 17256 for the Sensex and 5197 for the Nifty. Stocks should be tracked on intraday for now as the lives of the moves have become shorter. Investors should sit tight picking one off picks which come the way. Hold a scrip specific view…

Market View for Friday 02 Sep 2011

Index Levels

BSE Sensex 16676.75

Major Support 16585 – 16443

Major Resistance 16910 – 17256

NSE Nifty 5001.00

Major Support 4973 – 4927

Major Resistance 5078 – 5197

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The markets bounced back second day in a row on Tuesday. This momentum is expected to continue further as the indices correct from the recent fall witnessed from 5700 to 4800 levels. In the intraday the markets could stay volatile depending upon the way they open. If we witness a gap up opening then the movement for the day could be halted and at the same time if they open with a gap down opening then we could witness a good move up. For now the major sell off seems to be arrested. Most of the negative flows have been built in the price and this month contracts could bring in good opportunities. For the indices watch support coming in from the lows made on Tuesday. For the Sensex it exists @ 16443 and for the Nifty @ 4927 levels. On the higher side resistance comes in @ 17256 and for the Nifty @ 5197. Hold a scrip specific view. DO NOT FORGET TO BE AN OPPORTUNIST…

Market View for Tuesday 30 Aug 2011

Index Levels

BSE Sensex 16416.33

Major Support 16248 – 16080

Major Resistance 16462 – 16549 – 16910


NSE Nifty 4919.60

Major Support 4862 – 4806

Major Resistance 4934 – 4965 – 5078

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The markets rejoiced on the footsteps of the global markets which also traded in the green today. This is amidst ‘IRENE’ hitting United States. It seems that India celebrated the win of ANNA HAZARE. For Tuesday the markets would again try to rally as they have been battered for long. Only a gap up opening could prove to be a spoil sport and could bring in dull trade in the markets. For the Sensex one should watch support coming in @ 16248 and for the Nifty @ 4862 levels. On the higher side resistance comes in @ 16549 for the Sensex and 4965 for the Nifty. Once these levels are crossed then expect a big jump in the intraday move. Hold a scrip specific view…

Market View for Monday 29 Aug 2011

Index Levels
BSE Sensex 15848.83

Major Support 15765 – 15330 – 14684

Major Resistance 16155 – 16549

NSE Nifty 4747.80

Major Support 4692 – 4538 – 4353

Major Resistance 4843 – 4965

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The markets continued to sell off with negative flows from the domestic as well as the global front. At current levels the charts suggest that the weakness would continue but a dead cat bounce cannot be ruled out as the indices test supports on the lower side. This bounce would be small, temporary and could live for a few moments in the intraday trade. Choppy trading activity will rule the markets for now as the indices trade in oversold and with lack of positive triggers to lift the sentiments for now. For this week one needs to watch supports coming in @ 15330 for the Sensex and 4538 for the Nifty. These are good support levels where the indices could take a breather. On the higher side resistance exists @ 16155 for the Sensex and 4843 for the Nifty. Scrip specific action should rule the markets and one need to be an opportunist to make the maximum of the lonely opportunity which could come your way. Nothing much to write in this newsletter. Anna Hazare has won is what everybody is saying – but I would say that the victory is not yet in sight. The things need to materialize only then we can say the people have won. But one good thing which happened for sure is that Anna is alive to fight for us. Let’s hope for the best…

Market View for Tuesday 23 Aug 2011

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!

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

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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.

Market View for Friday 12 Aug 2011

Index Levels

BSE Sensex 17059.40

Major Support 17012 – 16858 – 16759

Major Resistance 17256


NSE Nifty 5138.30

Major Support 5121 – 4947

Major Resistance 5198


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The markets seem to take a breather for the last two trading sessions. Volatility as predicted has come down and will be low even today. Next week having only 3 trading sessions we expect investors not to commit on either side of the markets. For today supports will be seen at 17012 and 5121 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. We continue with our view - Investors who have already sold should stay away from the markets.