Thursday, August 9, 2012

Market View for Friday 10 Aug 2012




Index Levels

BSE Sensex 17560.87

Major Support 17516 – 17456 – 17417
Major Resistance 17702 – 17726


NSE Nifty 5322.95

Major Support 5312 – 5295 – 5281
Major Resistance 5368 – 5377 – 5385


View


The markets traded choppy to close with an indecisive spinning top pattern on candlestick charts. Today is the last day of the week and could again be same like the earlier two days. Also let’s remember that next week is a holiday week with Wednesday being a holiday on account of Independence day. For today watch yesterday’s high and low as crucial levels of support and resistance. Weakness could persist as we trade at the top end of the range of 5350 and 5040 levels. At these levels the weightage is more towards the down trade then the up trade. Hold a scrip specific view. Happy Investing & Happy Educating!

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