Market View for Thursday 02 Aug 2012

Index Levels BSE Sensex 17257.38 | NSE Nifty 5240.50 Major Support 17189 – 17004 | Major Support 5220 – 5154 Major Resistance 17291 – 17342 – 17431 | Major Resistance 5246 – 5267 – 5286   View The markets traded flat in a very narrow range throughout the day yesterday. Today could be again a similar day as we lack domestic and global triggers. Going forward if the markets try to rally they have a major resistance coming in @ 17342 for the Sensex and 5267 for the Nifty. This is a level where the markets have left a gap of half % approx on both the indices. Crossing this level could see the markets touch the recent highs once again. But as of now this looks difficult but is surely something which one should closely watch. A consolidation today could see the Nifty trading between yesterdays high and low between 5220 and 5246 levels. Stock specific action could continue. Among front liners SBI could be in the limelight. It is time to be watchful. Hold a low profile. Happy Investing & Happy Educating!