Market View for Tuesday 20 Dec 2011

Index Levels

BSE Sensex 15379.34

Major Support 15190 – 14684

Major Resistance 15440 – 15923 – 16354

NSE Nifty 4613.10

Major Support 4555 – 4538 – 4353

Major Resistance 4623 – 4779 – 4906


View
The markets traded sideways moving up and down with the final volatility being added by the European markets. The movement is expected to remain same throughout the month. Our markets now need domestic triggers which would help them move as per our own sentiments. This could also bring in good trading markets. Till such a time expect volatility to stay. Today watch support @ 15190 for the Sensex and 4555 for the Nifty. These are the levels from where the markets witnessed a rebound. These levels now will play a crucial role as important supports. Above these levels the beaten down markets would try to enjoy a breather. Upsides could be limited to 15923 for the Sensex and 4779 for the Nifty. Lets not forget that after the breakdown the markets have not tested back those levels and that’s what will happen today or tomorrow. The moves will be decided as per the market’s reaction when it reaches these levels. Scrip specific action to continue.

Market View for Monday 19 Dec 2011

Index Levels

BSE Sensex 15491.35

Major Support 15425 – 15330 – 14684

Major Resistance 15923 – 16354

NSE Nifty 4651.60

Major Support 4628 – 4538 – 4353

Major Resistance 4779 – 4906


View
The markets closed on a weak note as the RBI failed to give vitamins to the energy stripped markets. Europe crisis continue to loom over the markets as we continue to trade with lot of weakness and a lot negative sentiments going round and round on the business channels and newspapers. The charts of the major world indices suggest that the American markets are better placed than the rest of the markets in the world. Out of the two pillars which support the sentiments in India – US and Europe only one is facing a major problem as of now. This is a positive for the markets. The domestic cues continue to remain subdued but with the markets as a whole are trading in oversold territories. The markets this week are mostly expected to trade duckish with small moves and dull trades with low volumes. Scrip specific action would continue but risk would remain very high. Watch immediate supports for the Sensex @ 15425 and for the Nifty @ 4628 levels. These are major face saving levels for the two indices. If these levels hold then the indecisive sentiment would continue. Only a breakout below these levels would bring in big moves in the markets. As of resistance levels for the Sensex watch it @ 15923 and for the Nifty @ 4779 levels. Follow Intraday Action Viewer to make money in the intraday markets.