Index Levels
BSE Sensex - 17678.81
Major Support - 17622 – 17572 – 17471
Major Resistance - 17769 – 17820 – 17972
NSE Nifty - 5350.25
Major Support - 5341 – 5328 – 5294
Major Resistance - 5387 – 5399 – 5448
View
The markets steadily sold off yesterday. The current close for the markets is on the trend line plotted by joining all recent tops. Today would be an important day for the markets due to the levels at which they have closed. If we crack these supports then expect profit booking to set in. Also let’s not forget that the August contracts expire in the coming 2 days. For today watch support @ 17622 for the Sensex and 5341 for the Nifty. Below these levels the markets would test the lows made on 10th August. For the markets to stay in bull hands they would have to stay above 5400 which for the time being looks difficult but the charts would surely let us know if this has to happen. Hold a scrip specific view… Happy Investing & Happy Educating!
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