Market View for Monday 14 Nov 2011

Index Levels:

BSE Sensex 17192.82

Major Support 17183 – 17092 – 16898
Major Resistance 17393 – 17593 – 17806

NSE Nifty 5168.85

Major Support 5142 – 5114 – 5084
Major Resistance 5230 – 5317 – 5358


View:

The last week saw the markets trading under pressure from Moody’s downgrade of the Indian Banking System which came on the day of State Bank Of India second quarter earning numbers. Metals too witnessed sell offs as the cues of a slowdown forced investors to lower their weightage in these stocks. Euro zone remains to be a problem for all the markets in the world. No country would afford a meltdown but the economic turnaround is cause of worry as it would be completely dependent on the way these countries take dare devil steps to fight the current situation. In India we are buried under many but one major single factor which is ‘Inflation’. With inflation rising the interest rates will keep going up and in this scenario no stock markets ever have managed to run northwards. India could have some respite if the Government manages to do something on the policy front. There are lot many sectors where a lot of things have to be done. India needs Infrastructure drastically and that could provide a major booster for the economy. The Banking sector has to see reforms which could strengthen the financial system. The Government needs to fight the opposition to get things on track. Let’s hope for the best and till then let’s be TIGERS in the stock markets. Let’s make merry on the trading opportunities which come our way everyday. Use the ‘INTRADAY ACTION VIEWER’ inside PROFISION PRO to catch all the trading opportunities. In the last one month which was mostly a dull activity month this feature has generated approx Rs.1 lakhs of profit in day trading. To know more call 020-66868686. Coming back to Technicals the markets are trading on crucial supports. This coming week will play an important role for the markets going ahead. If the markets survive the supports then they would try to test the recent high again. The moves would be driven by the cues and developments happening on domestic and the global front. With indecision prevailing markets could be gripped with dull days and sideways moves. As of levels watch 17092 – 16898 as major supports for the Sensex and 5114 – 5084 for the Nifty. On the higher side resistance should be watched @ 17593 for the Sensex and 5358 for the Nifty. Technical Analysis Guru - Mr.Kiran Jadhav has created magic with PROFISION PRO and you should be taking benefit of his experience. Use it to make money in these markets. PRECISION TECHNICALS HAS REINVENTED INTRADAY TRADING.