Market View for Thursday 22 Mar 2012

Index Levels

BSE Sensex 17601.71

Major Support 17451 – 17301

Major Resistance 17622 – 17656 – 17871


NSE Nifty 5364.95

Major Support 5316 – 5267

Major Resistance 5372 – 5380 – 5445


View

The markets started the trade on a dull note eventually rallying to close the day with good gains. With such a big move witnessed yesterday we could see the indices trading more or less flat for today. For the Sensex watch support @ 17451 and for the Nifty @ 5316. On the higher side watch resistance @17622 for the Sensex and 5372 for the Nifty. Hold a scrip specific view…

Market View for Wednesday 21 Mar 2012

Index Levels

BSE Sensex 17316.18

Major Support 17211 – 17008

Major Resistance 17410 – 17531

NSE Nifty 5274.85

Major Support 5233 – 5171

Major Resistance 5297 – 5337


View

The markets traded indecisive to close with a spinning top formation. The markets drifted in the first half of the trade to eventually witnessing good amount of buying in the later hours of trade. Today is expected to be same again with dull activity. For today watch support for the Sensex @ 17211 and for the Nifty @ 5233 levels. On the higher side watch resistance @ 17410 for the Sensex and 5297 for the Nifty. The markets are expected to stay between these levels.

Market View for Tuesday 20 Mar 2012

Index Levels

BSE Sensex 17273.37

Major Support 17226 – 17008

Major Resistance 17402 – 17531

NSE Nifty 5257.05

Major Support 5238 – 5171

Major Resistance 5297 – 5337

View
The markets continued to drift downwards throughout the day. the action remained dull and today is expected to remain the same with sideways and choppy activity. For the Sensex watch resistance @ 17402 and for the Nifty @ 5297 levels. Below these levels the markets would trade weak and the would try and test supports @ 17226 – 17008 for the Sensex and 5238 – 5171 for the Nifty. Hold a low profile with no stocks showing any patterns on day end closing basis. For intraday wait for good picks in Intraday Action Viewer.

Market View for Monday 19 Mar 2012

Index Levels

BSE Sensex 17466.20

Major Support 17426 – 17008 – 16828

Major Resistance 17619 – 17772 – 18040


NSE Nifty 5317.90

Major Support 5305 – 5171 – 5063

Major Resistance 5369 – 5420 – 5499

View

The markets were disappointed with the budget. They cracked on Friday with selling coming in at the fag end of trading hours. Overall the budget was a flat one with no major positive or negative sides to it. This could be taken by global investors positively with hurdles now crossed and no negative triggers the flow of money should continue. The next big trigger for the markets is the yearly numbers which will be announced in 20 days time. The indices have closed with bearish candles for the week but they continue to survive above the trend line support. This is an extreme positive for the markets. With this trend line surviving as a major support we could see the markets rallying further. The view will change only if we are surprised on the global front which brings in selling and breaks below this support. Till such a time one can stick to stock specific action. For the Sensex watch support @ 17008 and for the Nifty @ 5171. On the higher side watch resistance @ 17619 for the Sensex and 5369. A move above these levels will confirm our above view of selling observed on Friday to be a temporary one. Till such a time one should continue to trade with strict stop losses.

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.