Market View for Friday 09 Mar 2012

Index Levels

BSE Sensex 17145.52

Major Support 17008 – 16828

Major Resistance 17239 – 17336 – 17691


NSE Nifty 5220.45

Major Support 5171 – 5076

Major Resistance 5243 – 5266 – 5382


View

The Greece overhang seems to be nearing a positive end bringing in cheer in the global markets. on the domestic front the next big trigger is the monetary policy and the Union budget coming up in the next week. The indices have witnessed a 10% correction till now. The cues coming in from the Pre opening is that the markets would open with a gap up. This is something which players should be cautious of as the markets would find it difficult in sustaining to the gains with such a opening. There can be exceptions and therefore entering trades on confirmations is advisable. For the Sensex watch support @ 17008 and for the Nifty @ 5171 levels. On the higher side the markets could test levels mentioned above as resistance. Scrip specific action will continue.

Market View for Wednesday 07 Mar 2012

Index Levels

BSE Sensex 17173.29

Major Support 17128 – 17061 – 16965 – 16828

Major Resistance 17336 – 17691


NSE Nifty 5222.40

Major Support 5206 – 5159 – 5125 – 5076

Major Resistance 5266 – 5382


View

The markets sold off amidst a choppy session as the election results kept coming during the day. After a sell off the markets witnessed a rally to finally give way by the end of the session. The weakness is expected to continue even today. Choppiness could continue with the overall picture very gloomy on the domestic as well as global front. A surprise could now be from the RBI policy or the success of Greece in avoiding default or the Union Budget which comes up next week. If the markets fail to have some surprises then expect them to continue their correction to deepen. It is a good idea to hold a scrip specific view. For the Sensex today watch resistance @ 17336 and for the Nifty @ 5266 levels. On the lower side supports come in @ 17061 – 16965 for the Sensex and 5159 – 5125 for the Nifty. Below the resistance levels expect the indices to test supports mentioned above.

Market View for Friday 02 Mar 2012

Index Levels

BSE Sensex 17583.97

Major Support 17463 – 17381

Major Resistance 17714 – 17919 – 18001


NSE Nifty 5339.75

Major Support 5297 – 5268

Major Resistance 5372 – 5424 – 5458


View

The markets traded choppy and indecisive throughout the day. Though the buying was missing so was the selling which did not continue for long. The choppy trade continued with stocks as well. With lack of triggers and major events coming in the next two weeks the markets are expected to trade dull and sideways. For the Sensex watch support @ 17463 and for the Nifty @ 5297 levels. On the higher levels Sensex has a resistance @ 17714 and Nifty has it @ 5372 levels. Hold a scrip specific view.

Market View for Thursday 01 Mar 2012

Index Levels

BSE Sensex 17752.68

Major Support 17677 – 17638 – 17545

Major Resistance 17919 – 18001 – 18198



NSE Nifty 5385.20

Major Support 5352 – 5343 – 5310

Major Resistance 5424 – 5458 – 5479


View

The markets traded choppy with low volumes as the players face tough GDP numbers. Falling growth did subdue the markets but did not materialize into a sell off. The trend is expected to continue today again. Supports should be watched @ 17677 for the Sensex and 5352 for the Nifty. On the higher side resistance should be watched @ 17919 for the Sensex and 5424 for the Nifty. Election results for UP, RBI policy, Union Budget, Greece are some events which have started inducing indecisiveness in the markets. As these events are completed the markets should decide its direction. Therefore this is a period to keep your bull horns and bear tails in the closet. Enjoy a low profile till we have clarity on these issues.

Market View for Friday 17 Feb 2012

Index Levels

BSE Sensex 18153.99

Major Support 18043 – 18000 – 17890

Major Resistance 18182 – 18231 – 18440

NSE Nifty 5521.95

Major Support 5483 – 5460 – 5377

Major Resistance 5531 – 5542 – 5552


View
The markets closed with an indecisive pattern on day end closing basis. The bullish mood continues with money flowing in one or the other stock. The financial problem started in the American economy in 2008 and in 2012 the stock markets there are hitting new highs. If the money keeps coming we too can hit a new high in a few days. For today if the markets open with a gap up opening then we could see the indices consolidating. For the indices watch resistance @ 18231 for the Sensex and 5542 for the Nifty. On the lower side watch supports @ 18000 for the Sensex and 5460 for the Nifty. Hold a scrip specific view…

Market View for Thursday 16 Feb 2012

Index Levels

BSE Sensex 18202.41

Major Support 18101 – 18000
Major Resistance 5496 – 5460


NSE Nifty 5531.95

Major Support 5496 – 5460
Major Resistance 18231 – 18440

View:

With the markets having taken energy pills they continued to sprint forward. With a gap up opening the markets continued to stay afloat throughout the day. It seems the money is still flowing in our markets making the stocks rally. With the global markets we could start subdued today but the buoyancy will continue. For the day watch resistance @ 18231 for the Sensex and 5542 for the Nifty. Below these levels the indices would consolidate. On the lower side today the indices can test supports @ 18101 for the Sensex and 5496 for the Nifty. Hold a scrip specific view…

Market View for Wednesday 01 Feb 2012

Index Levels

BSE Sensex 17193.55

Major Support 17079 – 16965 – 16828

Major Resistance 17238 – 17258

NSE Nifty 5199.25

Major Support 5162 – 5125 – 5076

Major Resistance 5215 – 5217


View
The markets showed strength as they witnessed a broad based rally. The quarterly numbers are almost through and the next big trigger for the markets leaving aside the cues coming in from Europe would be the Budget which is scheduled after the elections. This means till the Budget there would not be any negative trigger coming in on the domestic front and that could ensure that the strong hands make money in the short term. Consolidations would continue but the overall tendency of the markets could remain biased towards bullishness. For today expect the markets to trade sideways and choppy. As of levels watch support @ 17079 for the Sensex and 5162for the Nifty. On the higher side watch resistance @ 17238 – 17258 for the Sensex and 5215 – 5217 for the Nifty. Selling could come in at higher levels. Hold a scrip specific view…