Market View for Thursday 15 Mar 2012

Index Levels

BSE Sensex 17919.30

Major Support 17837 – 17680 – 17494

Major Resistance 18040 – 18198 – 18249


NSE Nifty 5463.90

Major Support 5437 – 5391 – 5327

Major Resistance 5499 – 5521 – 5537


View

The markets have been witnessing gap up opening for the last 4 trading sessions. And due to the cautious optimism in the markets mercy the Union Budget scheduled on Friday after a buoyant opening the trading has remained choppy with scrip specific activity. With global cues continuing to be strong our markets would continue the current pattern of their moves. This is expected to happen till Friday when everybody would be glued to the television sets to interpret the Union Budget. for the day watch support for the Sensex @ 17837 and for the Nifty @ 5437 levels. On the higher side resistance should be watched @ 18040 for the Sensex and 5499 for the Nifty. Till the markets stay above the supports expect the mood to stay bullish. Hold a scrip specific view…

Market View for Wednesday 14 Mar 2012

Index Levels

BSE Sensex 17813.62

Major Support 17680 – 17494 – 17414

Major Resistance 17842 – 18001 – 18198

NSE Nifty 5429.50

Major Support 5391 – 5327 – 5294

Major Resistance 5438 – 5458 – 5521


View

Watch IIP numbers which will be announced. The bullishness is expected to continue. The markets are expected to open with a gap up opening. Scrip specific action is expected to continue throughout the day with choppy activity in the overall market. For the Sensex watch support @ 17680 and for the Nifty @ 5391 levels. On the higher side resistance exists @ 17842 for the Sensex and 5438 for the Nifty.

Market View for Tuesday 13 Mar 2012

Index Levels

BSE Sensex 17587.67

Major Support 17494 – 17325 – 17008

Major Resistance 17772 – 18001

NSE Nifty 5359.55

Major Support 5327 – 5294 – 5171

Major Resistance 5421 – 5458


View

The markets are expected to stay calm as market players get ready for the Budget this week. Till the time the lows made on the last Wednesday are broken the market would continue to stay afloat moving up slowly. For the Sensex support should be watched @ 17494 and for the Nifty @ 5327 levels. On the higher side the resistance should be watched @ 17772 for the Sensex and 5421 for the Nifty. At higher levels the markets would face difficulty sustaining. Choppy trade will continue. Hold a scrip specific activity.

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.