Market View for Tuesday 15 Nov 2011

Index Levels

BSE Sensex 17118.74

Major Support 17096 – 16900 – 16744

Major Resistance 17233 – 17348 – 17391

NSE Nifty 5148.35

Major Support 5142 – 5085 – 5033

Major Resistance 5182 – 5217 – 5228


View
The markets opened with a gap up opening taking cues from the global markets which were rejoicing the election of new PM in Italy. This move failed to survive as the markets buckled under pressure again from Metals and Banks. SBI was again hit today with doubts on recovery of loans given to Kingfisher Airlines. Gap up and Gap down openings will continue to cause of concern as the intraday moves will be dictated by positions held by traders. Weakness continues but there is one sign of hope for the markets as they continue to survive above the lows made on last Friday. These are major supports coming in @ 17096 for the Sensex and 5142 for the Nifty. If these levels are broken then there would major cause for worry as then the markets would be gripped by bears which would try and take it down to test the lows made in Sept and Oct. on the higher side resistance should be watched @ 17233 – 17348 for the Sensex and 5182 – 5217 for the Nifty. Expect a choppy session going ahead which would try and search for triggers from firstly the global and secondly the domestic developments. Intraday Action Viewer made a profit of Rs.39926.63 today. If you have not used do not know how to use this feature inside PROFISION PRO then call our support team on 020-66868686. Technical Analysis Guru – Mr.Kiran Jadhav has created magic with PROFISION PRO and you should take benefit of it. PRECISION TECHNICALS HAS REINVENTED INTRADAY TRADING. Use it to make money in these markets.

Market View for Friday 11 Nov 2011

Index Levels

BSE

Sensex 17362.10

Major Support 17278 – 17133 – 16900
Major Resistance 17502 – 17641 – 17658

NSE Nifty 5221.05

Major Support 5201 – 5164 – 5085
Major Resistance 5265 – 5309 – 5317


View
The markets sold off with SBI cracking approximately 7% after its numbers. The sell off was mostly due to the downgrade of the banking system by rating agency Moody’s. The concerns and the unclear approach of the Government on the NPA’s and the further infusion of new money for loans to continue is a major cause of worry. The crisis surely is not as big as the European Union but this also not be neglected in a period when economies are slowing down and the inflation is on a rise. One thing is for sure that with the interest rates rising and remaining at current levels the markets are going to find it difficult to rally to make new highs. The need to the day is path breaking policies on the Government front which could act as a stimulus for the long dull markets. The winter session which starts soon may also prove to be a spoil sport with the opposition gunning for the issues like Black Money and Jan Lokpal Bill. The markets now need surprises which can make them cheer. On the global front some stringent and out of the world ideas if any manage to save the Euro zone could also be a dim sight of light for all the world markets. All said and done nobody can expect any country to fail but the time taken for saving these economies could be a heartbreaker. Till then lets expect for the best to happen with a positive outcome. Technically our markets now have to survive the supports if the selloff of this banking system downgrade continues. These supports come in from the levels which acted as a resistance for the markets in the months of Sept and Oct. watch supports for the Sensex @ 17278 – 17133 and for the Nifty @ 5201 – 5164 levels. If these are sustained and the markets manage to move up then the indices could witness a rally to test higher resistance levels. The market players would wait for triggers and developments on the European front and would mostly be driven by the American and the FTSE market. Hold a scrip specific view. This period is when one should concentrate on day trades using the Intraday Action Viewer built inside PROFISION PRO. If you do not know what it is or how to use it to your advantage then call the PRECISION TECHNICALS support team. The support is available from 8 am to 12 midnight on weekdays. Take benefit and be a part of the winning team of ARJUN’s and TIGER’s. It is 11 11 11 – lets see if this day has any good surprises for us other than celebrity kids being born. Happy Investing, Happy Educating and Happy Trading!!!!

Market View for Friday 11 Nov 2011

Index Levels

BSE

Sensex 17362.10

Major Support 17278 – 17133 – 16900
Major Resistance 17502 – 17641 – 17658

NSE Nifty 5221.05

Major Support 5201 – 5164 – 5085
Major Resistance 5265 – 5309 – 5317


View
The markets sold off with SBI cracking approximately 7% after its numbers. The sell off was mostly due to the downgrade of the banking system by rating agency Moody’s. The concerns and the unclear approach of the Government on the NPA’s and the further infusion of new money for loans to continue is a major cause of worry. The crisis surely is not as big as the European Union but this also not be neglected in a period when economies are slowing down and the inflation is on a rise. One thing is for sure that with the interest rates rising and remaining at current levels the markets are going to find it difficult to rally to make new highs. The need to the day is path breaking policies on the Government front which could act as a stimulus for the long dull markets. The winter session which starts soon may also prove to be a spoil sport with the opposition gunning for the issues like Black Money and Jan Lokpal Bill. The markets now need surprises which can make them cheer. On the global front some stringent and out of the world ideas if any manage to save the Euro zone could also be a dim sight of light for all the world markets. All said and done nobody can expect any country to fail but the time taken for saving these economies could be a heartbreaker. Till then lets expect for the best to happen with a positive outcome. Technically our markets now have to survive the supports if the selloff of this banking system downgrade continues. These supports come in from the levels which acted as a resistance for the markets in the months of Sept and Oct. watch supports for the Sensex @ 17278 – 17133 and for the Nifty @ 5201 – 5164 levels. If these are sustained and the markets manage to move up then the indices could witness a rally to test higher resistance levels. The market players would wait for triggers and developments on the European front and would mostly be driven by the American and the FTSE market. Hold a scrip specific view. This period is when one should concentrate on day trades using the Intraday Action Viewer built inside PROFISION PRO. If you do not know what it is or how to use it to your advantage then call the PRECISION TECHNICALS support team. The support is available from 8 am to 12 midnight on weekdays. Take benefit and be a part of the winning team of ARJUN’s and TIGER’s. It is 11 11 11 – lets see if this day has any good surprises for us other than celebrity kids being born. Happy Investing, Happy Educating and Happy Trading!!!!

Market View for Wednesday 09 Nov 2011

Index Levels

BSE Sensex 17569.53

Major Support 17455 – 17278

Major Resistance 17632 – 17813 – 17908

NSE Nifty 5289.35

Major Support 5252 – 5201

Major Resistance 5304 – 5360 – 5399


View
The markets traded indecisive and dull. The closing on the day end charts was a spinning top on candlestick formations. With this formation the importance of the high and the low made today by the indices will be witnessed in the trading tomorrow. For the day watch support for the Sensex @ 17455 and for the Nifty @ 5252 levels. On the higher side watch resistance @ 17632 and 5304 for the Sensex and the Nifty respectively. The markets are expected to wait for cues coming in from the world markets and till such a time that some strong triggers come in we would witness the markets moving sideways. Hold a low profile…

Market View for Friday 04 Nov 2011

Index Levels
BSE Sensex 17481.93

Major Support 17278 – 17189

Major Resistance 17527 – 17661 – 17813

NSE Nifty 5265.75

Major Support 5201 – 5164

Major Resistance 5281 – 5310 – 5360


View
The markets rally due to broad based short covering witnessed after noon hours. This was with help from the European markets which witnessed a rally after a gap down opening. Today the markets are expected to open with a gap up opening and the later direction would be decided by the cues coming in from the rest of the markets in the world and the intraday positions. One good thing about our markets is that they now have filled the gap which was left as they had opened with a gap up opening on last Friday. This is a good sign and could help the markets gallop further without any negative vibes coming in from the rest of world markets. As of levels watch 17278 as crucial support for the Sensex and 5201 for the Nifty. On the higher side the indices could try and test 17661 and 5310 on the higher side today.

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 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…