Market View for Friday 30 Sep 2011

Index Levels

BSE Sensex 16698.07

Major Support 16542 – 16387

Major Resistance 16756 – 16827 – 17191

NSE Nifty 5015.45

Major Support 4969 – 4924

Major Resistance 5034 – 5054 – 5168



View
The markets wanted a reason and they got it yesterday with the German’s approving a bail out for the European crisis. As I said it was just a reason wanted and which the markets got for yesterday and would have nothing to do with the markets for today. It is a new day and the markets would be searching for new triggers. Till then get something new and sizzling which could take them up further, expect the markets to sell off. Also let’s not forget it was expiry of September contracts which was one more reason for the rally yesterday. For the day watch resistance @ 16756 for the Sensex and 5034 for the Nifty. Below these levels the markets would continue to sell off and test support levels. On the lower side the markets could test 16387 for the Sensex and 4924 for the Nifty. Hold a scrip specific view…

Market View for Thursday 29 Sep 2011

Index Levels

BSE Sensex 16446.02

Major Support 16363 – 16289

Major Resistance 16554 – 16663 – 16827

NSE Nifty 4945.90

Major Support 4918 – 4905

Major Resistance 4975 – 5005 – 5054


View
The markets opened with gap up opening bullied by the strength witnessed in the markets day before yesterday and later on consolidated with choppy trade as the cues coming in from global markets remained mixed. Today is derivatives expiry for the September contracts and could be choppy. The global cues would also be something which the players would like to be watchful of as the developments from Europe are carefully watched. For the Sensex watch support @ 16363 and 4918 for the Nifty. On the higher side resistance comes in @ 16554 for the Sensex and 4975 for the Nifty. The markets could remain sideways and scrip specific action could be witnessed.

Market View for Tuesday 27 Sep 2011

Index Levels
BSE Sensex 16051.10

Major Support 15801 – 15765 – 15330

Major Resistance 16209 – 16513 – 16865

NSE Nifty 4835.40

Major Support 4758 – 4720 – 4538

Major Resistance 4879 – 4968 – 5068


View
The markets bounced back from intraday lows in highly volatile session. Stocks too displayed choppy trade. With the global cues being positive it is expected that our markets should also open with a gap up opening. This could also prove to be spoil spot for the markets cause with a gap up opening the later 3 hours of trade would be cautious and indecisive. For the Sensex watch support @ 15801 and for the Nifty @ 4758 levels. Above these levels the markets would hold for now. Hold a a scrip specific view…

Market View for Monday 26 Sep 2011

Index Levels

BSE Sensex 16162.06

Major Support 16052 – 15765 – 15330

Major Resistance 16513 – 16865 – 17191

NSE Nifty 4867.75

Major Support 4829 – 4720 – 4538

Major Resistance 4968 – 5068 – 5168


View The last week saw the markets selling off sending shivers as felt adrenaline of a double dip recession. The formation on charts is not good and therefore the cautiousness which we have been witnessing for the last few days could see a rise. The markets have one last hope before this theory of a double dip recession could actually grip the markets and that comes in from support levels @ 15330 for the Sensex and 4538 for the Nifty. These levels need to be watched closely for the coming few weeks. This week watch resistance @ 17191 for the Sensex and 5168 for the Nifty. Below these levels the indices would continue to trade weak and dull as they come across a trigger less day. This weakness could take the markets further down to test the supports mentioned above. Hold a scrip specific view….