Market View for Friday 21 Sep 2012

Index Levels BSE Sensex 18349.25 | NSE Nifty 5554.25 Major Support 18292 – 18284 – 18062 | Major Support 5534 – 5528 – 5447 Major Resistance 18443 – 18580 – 18619 | Major Resistance 5581 – 5620 – 5631   View The markets opened with a gap down opening and continued to trade choppy. All this amidst the political turmoil happening with the government’s existence. As we get into trade today we need to closely watch supports @ 18292 for the Sensex and 5528 for the Nifty. These are important supports for the markets cause if these levels are broken then the indices could sell off big as they have a gap to fill. On the higher side resistance should be watched @ 18443 and 5581 for the Sensex and the Nifty. Between these levels expect the markets to trade choppy. Traders should enter trades only if the nifty moves either above or below these levels. Investors should continue their scrip specific approach. Happy Investing & Happy Educating!

Market View for Tuesday 18 Sep 2012

Index Levels

BSE Sensex   -   18542.31
Major Support         -   18480 – 18284 – 18062
Major Resistance   -   18619 – 18715


NSE Nifty   -  5610.00
Major Support        -     5585 – 5528 – 5447
Major Resistance  -     5631 – 5652




View

In the last 9 days the Nifty has witnessed a move from 5200 to 5600 levels. This was the fastest move in the last many months. Yesterday we witnessed a choppy trade with consolidation happening. Some amount of profit booking too was witnessed which is very natural for the markets to go through after witnessing a big rally. the consolidation and the type of move seen yesterday could continue today again with the markets staying choppy and corrective. The cues coming in from the global markets are indecisive. As of levels for today watch markets staying range bound between yesterdays high and low levels. Resistance for today would come in @ 18715 for the Sensex and 5652 for the Nifty. On the lower side support should be watched @ 18480 for the Sensex and 5585 for the Nifty. For today traders should avoid trades to holding low profile. Investors can take a scrip specific view but again with a low profile. Happy Investing & Happy Educating!

Market View for Monday 17 Sep 2012

Index Levels

BSE Sensex   -   18464.27

Major Support        -   18082 – 17701
Major Resistance  -   18523 – 19131 – 19811


NSE Nifty   -   5577.65

Major Support        -    5460 – 5343
Major Resistance  -    5629 – 5740 – 5944




View

The last two weeks have been packed with anxiety and action. Finally the government manages to be a bully and go ahead on the policy front. A step which was long awaited by our policy hungry country. These policies are not solutions on all our problems but atleast they mark the start of good work on account of the government. So we start the new week on an extreme positive note. With this also lets hope that the retail participation increases going forward. This move could give more confidence to the FII’s and this could in turn help the foreign fund flow to continue in our markets. Coming back lets look at Technicals using PROFISION charts. Let’s look at three different time frame charts. On the long term chart after making a top at near all time high levels in November 2010 the indices were in a steady down trend making lower tops and lower bottoms till we got a breakout above this level in January 2012. After this the markets made a new top if compared with the earlier top then correcting to take support on the falling trend line confirming the support and also the importance of this trend line. The move then again took the markets up to face resistance on a trend line plotted joining the all time high of Nov 2010 and the high made in Feb 2012. Amidst a lot of pessimism the markets gave us a breakout in the second week of August. The pessimism continued but the markets did not look back. On the extreme short terms charts this move helped the indices to make higher top and higher bottom formation suggesting an extreme positive sentiment. The current close in just near resistances coming in from the highs made by the indices in February 2012. A weekly close above these levels will mark a higher bottom and higher top formation on medium terms charts further suggesting that the markets are heading for all time high levels. For now everything looks good. Today we have the RBI policy and the expectations have now increased due to the initial positive initiative taken by the government. Everybody is expecting a rate cut and an otherwise decision could make the markets consolidate. Irrespective of the decision taken in the RBI policy the overall mood remains positive for now. Investors should hold a scrip specific view and wait for stocks to be picked by Stock Assist. Traders need to be TIGER’s. Happy Investing & Happy Educating!

Market View for Friday 14 Sep 2012

Index Levels

BSE Sensex   -   18021.16
Major Support          -    17976 – 17916 – 17884
Major Resistance    -    18062 – 18198 – 18249 – 18523


NSE Nifty   -   5435.35
Major Support         -      5421 – 5404 – 5393
Major Resistance   -      5447 – 5499 – 5537 – 5629



View

Finally the Diesel is in on the domestic front. Now we have clarity on the fuel hike front. The next positive was from the US markets where the Federal Reserve Chairman Ben Bernanke was strong and bullish enough to boost the US markets into a rally hitting multiple year highs. Taking cues from these events our markets are expected to open with a gap up opening. For the Sensex higher levels could be 18249 – 18523 and for the Nifty would be 5537 – 5629. An opening with a gap usually is risky cause the market tend to pause for a few hours in the intraday trade. Same could happen today and we could witness moves in the later half of the day. One thing is for sure that the mood for now is positive. A little help on policy front domestically could fuel a rally in our markets. Investors hold on it’s a weekly closing today. Traders Pro is the solution. Happy Investing & Happy Educating!

Market View for Thursday 13 Sep 2012

Index Levels


BSE Sensex   -   18000.03
Major Support         -     17916 – 17884 – 17711
Major Resistance   -     18012 – 18040 – 18198


NSE Nifty   -   5431.00
Major Support         -     5404 – 5393 – 5363
Major Resistance   -     5448 – 5499 – 5537



View

The markets traded strong with support from domestic as well as global cues. The decision taken by the German court being in favour of the European Union saw the overall global markets rally. As we move forward from here the markets should manage to trade with a positive undercurrent. The American markets are near 5 year highs and ideally if the FII’s are bringing in money India should not stay behind. Let’s wait and watch this optimistic view. For today watch support for the Sensex @ 17916 – 17884 and for the Nifty @ 5404 – 5393. Above these levels the markets would continue to trade strong. Today the cues coming in from global markets are indecisive and that could lead to our markets starting the trade flat later getting into a correction or consolidation. The choppiness could also be high as the indices now have reached the August month highs and therefore at these resistance levels the market players could get cautious. Investors should hold a scrip specific view. Stay with stocks picked by Stock Assist on end of the day basis. Traders should wait for opportunities in the intraday trade and remember to pick with confirmations. Happy Investing & Happy Educating!

Market View for Wednesday 12 Sep 2012

Index Levels


BSE Sensex   -   17852.95
Major Support        -   17711 – 17677 – 17575
Major Resistance  -   17867 – 17972

NSE Nifty   -   5390.00
Major Support        -    5363 – 5336 – 5309
Major Resistance  -    5399 – 5448




View

The markets traded choppy but stayed afloat and moved up. For today watch support @ 17711 for the Sensex and 5363 for the Nifty. Today the cues could be taken from the IIP numbers which come in @ 11 am and later from Germany. Open could be strong but the market could feel a little choppy before the events. On the higher side without any strong cues it is difficult for the markets to rally. Choppiness will remain high and trades should be entered with caution. Investors should hold a scrip specific view. Happy Investing & Happy Educating!

Market View for Tuesday 11 Sep 2012

Index Levels


BSE Sensex   -   17766.78

Major Support         -   17728 – 17694 – 17575
Major Resistance   -   17810 – 17822 – 17972

NSE Nifty   -   5363.45

Major Support        -    5349 – 5343 – 5309
Major Resistance  -    5375 – 5399 – 5448




View

The cues coming in from global markets today are weak and our markets are expected to open with a gap down opening. Closing yesterday on candlestick charts was a spinning top formation which suggests the current mood of the markets players which is indecisive. For today watch yesterday’s highs and lows as trend decider levels. At current levels the markets have reached a 50% correction of the move from 5400 to 5200 levels witnessed in August. This also makes the current level very crucial as the strength could weaken with the Nifty having left a gap as it moved up 4 days back. Nifty correcting down to 5240 cannot be denied at this point in time. Hold a scrip specific view… Happy Investing & Happy Educating!