Market View for Thursday 22 Sep 2011

Index Levels

BSE Sensex 17065.15

Major Support 17000 – 16933 – 16768

Major Resistance 17191 – 17209 – 17358


NSE Nifty 5133.25

Major Support 5109 – 5091 – 5042

Major Resistance 5168 – 5229


View
The markets opened flat and traded dull throughout the day. The movement too was very narrow range bound and the participation on front of market players remained low. Most of the stocks witnessed dull trade. This make also be on account of the indices reaching resistance levels in the short term. It is now important for us to watch resistance @ 17209 – 17358 levels for the Sensex and 5229 for the Nifty. On the lower side supports should be watched @ 17191 for the Sensex and 5109 for the Nifty. With range bound trade yesterday players should watch the highs and lows made yesterday as trend deciders for today. Hold a scrip specific view…

Market View for Wednesday 21 Sep 2011

Index Levels BSE Sensex 17099.28

Major Support 16933 – 16768

Major Resistance 17135 – 17209 – 17256

NSE Nifty 5140.20

Major Support 5091 – 5042

Major Resistance 5149 – 5169 – 5229


View The markets opened flat and continued in the northward direction throughout the day. The markets seem to be now attracted towards the falling trendline which they has broken when they fell. These levels are @ 18200 for the Sensex and 5400 for the Nifty. Looking at the short term charts they suggest that the markets are making a higher top and higher bottom and the possibility of the above levels is high. For Wednesday one needs to watch major resistance @ 17256 for the Sensex and 5229 for the Nifty. If the indices open with a gap up opening then we could see them taking a breather. It is important to see the way the markets react at these resistance levels. On the lower side supports should be watched @ 16933 for the Sensex and 5091 for the Nifty. The global cue will surely have an effect on the days trade but at current levels with stocks not forming any price patterns it is advisable to search for opportunities on the intraday front. With Event Viewer built inside PROFISION PRO it is now easy to pick these opportunities. LIVING IN A JUNGLE WAS DIFFICULT BUT WITH THIS FEATURE WE CAN NOW EASILY BE TIGERS OF THE JUMP POUNCING ON OPPORTUNITIES WHICH COME TO US WITH A LOUD SOUND ‘EVENT’. Hold a scrip specific view… Happy Investing and Happy Educating!

Market View for Tuesday 20 Sep 2011

Index Levels

BSE Sensex 16745.35

Major Support 16709 – 16374

Major Resistance 16865 – 17047 – 17122

NSE Nifty 5031.95

Major Support 5019 – 4911

Major Resistance 5068 – 5123 – 5143


View
The markets traded dull and sideways. The volumes remained low with market players staying on the sidelines. As for intraday trading it was an overall good day with some nice pattern formations happening on intraday charts. For Tuesday the markets would try and take cues from the American markets as they open and then the trade would mostly be dictated by the intraday positions. September derivatives expiry is expected to be a dull one. As of levels one needs to watch major support @ 16374 for the Sensex and 4911 for the Nifty. Till the indices manage to hold on to these levels the markets would continue to stay afloat. Without positive triggers from the American and the rest of the world markets our markets will continue to trade dull. If these supports are broken then expect the indices to crack sharply and could bring action back in the markets. Gap up and gap down openings could be a spoil sport for the opening trend in the markets. Be cautious and wait for the trend to be formed before entering a trade in the intraday. Investors as of now should wait for good opportunities to come their way. Hold a scrip specific view…