Market View for Thursday 07 Aug 2011

BSE Sensex	18726.97
Major Support	18682 – 18694 – 18447
Major Resistance	18823 – 18942 – 19031

NSE Nifty	5625.45
Major Support	5610 – 5534 – 5441
Major Resistance	5655 – 5679 – 5706

The markets traded indecisive again for the third day in row. This is on account of the earnings season which starts from Friday. The indices are trading just below crucial resistance levels and the slightest of negative sentiment on part of the earnings numbers could play spoil sport. The choppiness is set to rise with the earnings number coming out. With an indecisive pattern on the day end closing basis the highs and lows formed by the indices would play an important role as we set for trade on Thursday. Watch resistance @ 18823 for the Sensex and 5655 for the Nifty. On the lower side watch supports coming in @ 18682 and 5610 for the Sensex and the Nifty respectively. A move above or below these levels would make the markets move in that direction. Get ready for a lot of surprises and plenty of moves from the coming week. Hold a scrip specific view…

Market View for Wednesday 06 Jul 2011

BSE Sensex	18744.56
Major Support	18694 – 18447 – 18132
Major Resistance	18837 – 18942 – 19031

NSE Nifty	5632.10
Major Support	5612 – 5534 – 5441
Major Resistance	5659 – 5679 – 5706

The markets continue to trade sideways. They manage to stay afloat though the upside has been restricted with the resistance coming in from the falling trend line joining all the recent tops. It seems the markets are getting to ready for the good and the ugly as the earnings season starts next week. For today watch support for the Sensex @ 18694 and for the Nifty @ 5612 levels. On the higher side resistance comes in @ 18837 for the Sensex and 5659 for the Nifty. Till the indices hold on to supports the choppiness will continue. An extraordinary positive development will help the indices break past the resistance levels. Hold a scrip specific view….

Market View for Tuesday 05 Jul 2011

BSE Sensex	18814.48
Major Support	18781 – 18447 – 18132
Major Resistance	18942 – 19031 – 19200

NSE Nifty	5650.50
Major Support	5633 – 5534 – 5441
Major Resistance	5679 – 5706 – 5750

The markets turned cautious as the indices reached the resistances coming in from the falling trend line formed by joining all the recent tops. The undercurrent is there as they manage to hold on to supports. The earnings season starts next week and could bring in cheer in the markets till the numbers do not turn out to be spoil sport. For the Sensex supports come in @ 18781 and for the Nifty 5633 levels. Above these levels the indices will manage to hold their ground. On the higher side resistance comes in @ 18942 for the Sensex and 5679 for the Nifty. Hold a scrip specific view…

Market View for Monday 04 Jul 2011

BSE Sensex	18762.80
Major Support	18447 – 18132 – 17925
Major Resistance	19031 – 19200 – 19811

NSE Nifty	5627.20
Major Support	5534 – 5441 – 5372
Major Resistance	5706 – 5750 – 5944

The markets bounced back on short covering as the June contracts expired. At current levels the markets are trading just below resistance coming in from a falling trend line joining the recent tops. The strength in the markets can be prominently observed for now. This is despite of all the negative news flow on the domestic as well as the global front. We have had scams, rising inflation, fuel price hike and rising interest rates to name a few. After all this the markets have managed to stay afloat. They have held their supports very well till now. This is something which market players should not forget. Now until and unless something drastically wrong happens we should not be expecting the markets to crack in a big way. All said and done this strength is also not enough for the markets to rally in a big way. The markets now need some positive developments on the policy front and the least on the numbers announced by the companies. The first quarter earnings season will start in the coming week. If these numbers happen to be good then that could prove to be a booster for the markets. For the Sensex watch supports @ 18447 – 18132 and for the Nifty @ 5534 – 5441 levels. Above these levels the indices are expected to hold positive. Resistance from the falling trend line comes in @ 19200 for the Sensex and 5750 for the Nifty. It is time for us to get ready for some action. In our careers we learn first and earn later, in the same way in the stock markets we need to be prepared for the opportunities which may come up any time. Opportunities are plenty if you stay in the stock markets for life. If you look at the stock markets with a come and go approach then it is not meant for you and neither would you be doing justice to your hard earned money. On that note let’s hold a scrip specific view and be watchful of all the opportunities that come our way…