Market View for Thursday 29 Dec 2011

Index Levels:

BSE Sensex 15727.85

Major Support 15666 – 15546 – 15472
Major Resistance 15854 – 15887 – 16049

NSE Nifty 4705.80

Major Support 4685 – 4636 – 4601
Major Resistance 4731 – 4756 – 4800


View:

The markets are expected to start off on a weak note taking cues from the US markets. The afternoon trade to be dictated by the European markets which will start at 1.30 pm. Today also is the December derivatives contracts expiry and that could bring volatility in the markets. For the Sensex watch resistance @ 15854 and for the Nifty @ 4731 levels. Below these levels the markets would remain weak and test further supports down the line. Hold a scrip specific view.

Market View for Tuesday 27 Dec 2011

Index Levels

BSE Sensex 15970.75

Major Support 15876 – 15782 – 15761

Major Resistance 15998 – 16068 – 16133

NSE Nifty 4779.00

Major Support 4748 – 4718 – 4693

Major Resistance 4787 – 4818 – 4839


View
The markets stayed afloat as the European and the American markets remained closed. The beaten down market got into correction mode with most of the stocks moving up. Today again is expected to be another day which if is not disturbed with an negative news flow would see the overall markets moving up. Small moves and dull activity could also be seen as witnessed yesterday. Holding a low profile this week is the best strategy for the week. For today watch support for the Sensex @ 15876 and for the Nifty @ 4748 levels. On the higher side the next targets for the markets could be 15998 – 16068 for the Sensex and 4787 – 4818 for the Nifty. As the markets move to the higher levels they could get cautious and therefore all positions should be held with strict stop losses.

Market View for Monday 26 Dec 2011

Index Levels

BSE Sensex 15738.70

Major Support 15440 – 15135 – 14684

Major Resistance 15911 – 16354

NSE Nifty 4714.00

Major Support 4623 – 4531 – 4353

Major Resistance 4763 – 4906


View
The markets witnessed choppy trade finally managing to close the week in the green but below the crucial levels below which it had broken in the earlier week. The close overall continues to remain because it failed to penetrate above the crucial level. This is the last week for the calendar year and with most players enjoying holidays could further see a slide in the trading volumes. It also happens to be yearly accounts closing for most of the foreign institutional players. It is said that the month of December sees a good closing because of accounts closing. This time could be different till we trade below the crucial levels. Major Resistance should be watched @ 15911 for the Sensex and 4763 for the Nifty. If the markets sustain above these levels then expect the markets to get into a consolidation phase. This could happen if the negative news flows stop coming in the markets. Europe continues to be a hanging sword on the markets. With elections scheduled in 5 states in the coming 3 months could further see a slide on the policy making process. This is a sentiment dampner for the markets. Also starting January we would witness earnings numbers for the 3rd quarter flowing in and that could bring in all kind of moods back – good, bad and ugly. From the earnings witnessed till now they do not seem to favour any spicy treat for the markets. The next big trigger for the markets would be budget and I wish the decision makers do give some life to the markets through a good budget. Lets hope for the best.