Market View for Friday 14 Oct 2011

Index Levels

BSE Sensex 16883.92

Major Support 16854 – 16608

Major Resistance 17048 – 17084 – 17191

NSE Nifty 5077.85

Major Support 5067 – 5055

Major Resistance 5104 – 5130 – 5137


View
The markets witnessed a breather as they reached the upper band of the current range. The global cues too remained indecisive on the outcome of the Eurozone. In between the day we had the RBI governor coming out and speaking his mind making them volatile eroding the bunch of traders who tried to make a living. All announcements should be banned during market hours. At times it seems these people have positions in the market and to make them work in their favour they come out and make an announcement. Anyways we can only discuss nothing else. For today watch major resistance @ 17191 for the Sensex and 5137 for the Nifty. At these levels the indices would feel the heat. The choppiness is expected to be high with moments of despair with the volumes suddenly disappearing from the markets. On the lower side supports should be seen @ 16608 for the Sensex and 5055 for the Nifty. Hold a scrip specific view…

Market View for Thursday 13 Oct 2011

Index Levels
BSE Sensex 16958.39

Major Support 16809 – 16660 – 16608

Major Resistance 16987 – 17191

NSE Nifty 5099.40

Major Support 5055 – 5011 – 4997

Major Resistance 5109 – 5168


View
The markets cheered the Infosys numbers with a thumping close for the day yesterday. The indices have now reached near the higher end of the current range which exists at around 5150 – 5200 levels. These are the levels where the markets could feel the heat with the momentum drying and cautious trades entered. For the day watch support for the Sensex @ 16809 and for the Nifty @ 5055 levels. On the higher side resistance comes in @ 17191 for the Sensex and 5168 for the Nifty. Hold a scrip specific view….