Market View for Friday 09 Sep 2011

Index Levels

BSE Sensex 17165.54

Major Support 16987 – 16922 – 16663

Major Resistance 17209 – 17256

NSE Nifty 5153.25

Major Support 5098 – 5080 – 4993

Major Resistance 5169 – 5197

View
The markets traded indecisive with players sticking to caution on account of the Obama speech scheduled to happen on Thursday in the US. The amwerican president sees the crisis and has big plans to win over the problems faced there. To be true just like our governments he also has tough face saving job to be done before facing elections. People had voted for change when Obama was elected and the only change which made possible was that Osama is not longer on hit list. Coming back to our markets remember the worlds problems are our opportunities. But it is also not that simple and easy. If our government fails to curb inflation, price rise and corruption it would eventually fail to bring in new reforms as the opposition will not allow doing so. And if the reforms do not see the light of the day then we could also be facing a tough time. But again same like the US for them to save their skin they will have to find ways out. For now the choppiness would continue as the movement in the markets is decided by the small news flows and the cues which come in from the global markets. For the Sensex watch support @ 16987 and for the Nifty @ 5098 levels. As the markets move up from the current levels they could face tough time to move further up. On the higher side major resistance comes in @ 17256 for the Sensex and 5197 for the Nifty. It’s the last day of the week and it is better to hold a Low Profile for today.

Market View for Thursday 08 Sep 2011

Index Levels

BSE Sensex 17065.00

Major Support 16922 – 16663 – 16488

Major Resistance 17157 – 17256

NSE Nifty 5124.65

Major Support 5080 – 4993 – 4942

Major Resistance 5154 – 5197

View
Our markets opened strong with stocks opening on the positive side. The fag end of the markets witnessed some pressure but overall the markets traded flat after opening strong. The participation was low and therefore the movement in most of the stocks was sluggish after the strong opening. Thursday could again be a sluggish day if the markets open with a gap up opening. If they open with a gap down opening then expect the markets to witness some movement. For the Sensex watch support @ 16922 and for the Nifty @ 5080. If the markets open above these levels and move down then we could witness a damp trade. On the higher side watch targets for the indices @ 17256 for the Sensex and 5197 for the Nifty. Hold a scrip specific view. Intraday is now easier with Event Viewer built inside PROFISION Pro. Take benefit of the short term moves using this feature. Medium to Long term investors need to make use of stocks picked by Technical Assist – Stocks inside PROFISION. Happy Investing and Happy Educating!!!

Market View for Wednesday 07 Sep 2011

Index Levels BSE Sensex 16862.81

Major Support 16663 – 16488

Major Resistance 16894 – 16989 – 17256

NSE Nifty 5064.30

Major Support 4993 – 4942

Major Resistance 5114 – 5197


View
Our markets opened flat and sold off in the initial hours this time weighed down by the European crisis. The late hours witnessed good recovery as the indices bounced back with the help of major heavyweights leading the rally. As mentioned yesterday the Indian markets have strength and will continue to display it without any negative side triggers coming in on the domestic or the global front. Slightest of positive news could gallop the markets further. All said and done the markets would continue to remain choppy in the intraday trade. For the indices watch support coming in from the lows made on Tuesday. These are the levels from where we witnessed a bounce back. For the Sensex watch support @ 16663 – 16488 and for the Nifty @ 4993 – 4942 levels. On the higher side resistance could be seen coming in @ 17256 for the Sensex and 5197 for the Nifty. Stocks should be tracked on intraday for now as the lives of the moves have become shorter. Investors should sit tight picking one off picks which come the way. Hold a scrip specific view…