Market View for Friday 29 Jul 2011

BSE Sensex 18209.52

Major Support 18188 – 18132 – 18022

Major Resistance 18327 – 18571

NSE Nifty 5487.75

Major Support 5475 – 5434 – 5407

Major Resistance 5512 – 5588

The markets opened with a gap down opening and continued to buck downwards under pressure of the RBI policy overhang. The closing is below the current range and therefore is a very weak sign for the markets. Friday being the last day of the week would be an important day for the markets. If the markets have to buck this trend then that could happen immediately in a day or two. Weakness is expected to stay till the indices trade below 18327 for the Sensex and 5512 for the Nifty. On the lower side the indices could test supports @ 18188 – 18022 for the Sensex and 5475 – 5407 for the Nifty. Individual stocks may continue to move their own way and therefore it would be better to hold a scrip specific view.

Market View for Thursday 28 Jul 2011

BSE Sensex 18432.25

Major Support 18358 – 18326

Major Resistance 18571 – 18708 – 18898

NSE Nifty 5546.80

Major Support 5521 – 5496

Major Resistance 5588 – 5631 – 5688

The markets continued to trade under pressure from the day before yesterday’s announcements made by the RBI governor. At current levels the indices have approached good support levels. If the indices respect these levels then the markets would continue to stay in strong hands. If these levels are cracked then that would suggest that we should get ready for a correction in the immediate short term. As of levels watch supports coming in @ 18358 – 18326 for the Sensex and 5521 - 5496 for the Nifty. On the higher side resistance should be watched @ 18571 for the Sensex and 5588 for the Nifty. Hold a scrip specific view…

Market View for Wednesday 27 Jul 2011

BSE Sensex	18518.22
Major Support	18481 – 18415 – 18326
Major Resistance	18708 – 18898 – 18944

NSE Nifty	5574.85
Major Support	5560 – 5532 – 5496
Major Resistance	5631 – 5688 – 5702

The markets started off on a steady note finally to give way to the statements coming out from the RBI. As the governor announced a hike in the interest rate the markets saw them selling off in a big way. The indices today have sold off from the important resistance coming in from the falling trendline. This also marks the formation of good resistance and in the future it will play an important role whenever the markets try to rally. The sell off could bring in further indecisiveness in the markets atleast for the week going ahead. Some good announcements from scam struck Indian government are a must to bring some cheer. As of levels the Sensex has a resistance @ 18708 and Nifty has it @ 5631 levels. On the lower side supports should be seen coming in @ 18481 – 18415 for the Sensex and 5560 – 5532 for the Nifty. Scrip specific action will continue in the markets. Investors should wait for some nice formations on charts.

Market View for Tuesday 26 Jul 2011

BSE Sensex	18871.29
Major Support	18753 – 18670 – 18533
Major Resistance	18932 – 19084 – 19131

NSE Nifty	5680.30
Major Support	5633 – 5616 – 5567
Major Resistance	5700 – 5740

The markets continued to rally to reach crucial resistances. At current levels the indices will face major resistance coming in from the falling trend line as well as from the highs made earlier this month. This is all amidst numbers not playing spoil sport anytime soon. For the Sensex watch resistance coming in @ 18932 and for the Nifty @ 5700 levels. Today is a crucial day as we wait and see the way markets react at these levels. On the lower side supports come in @ 18753 for the Sensex and 5633 for the Nifty. Hold a scrip specific view… Get ready for some action in the markets.

Market View for Monday 25 Jul 2011

BSE Sensex 18722.30
Major Support 18592 – 18415
Major Resistance 18765 – 18936 – 19131

NSE Nifty 5633.95
Major Support 5581 – 5532
Major Resistance 5654 – 5740

The indices managed to hold on to their ground throughout the last week. This is amidst good and bad numbers which were announced by companies. This indeed is a good sign for the markets as the indices try and create a base for themselves. Everybody who is absent in the markets are losing on a big opportunity coming their way. Be an investor but not a common one. If you do not prepare and practice for the war then when the actual action starts you would not perform. This is something which your common friends and colleagues need to understand. Coming back to technical levels watch support for the Sensex @ 18592 and for the Nifty @ 5581 levels. Above these levels the indices would continue to remain strong. Upsides are capped for now with major resistance coming in from a falling trend line. For the week watch immediate resistance @ 18765 for the Sensex and 5654 for the Nifty. Hold a scrip specific view…