Tuesday, August 28, 2012

Market View for Wednesday 29 Aug 2012




Index Levels


BSE Sensex   -  17631.71

Major Support        -    17570 – 17471
Major Resistance   -   17712 – 17769 – 17820



NSE Nifty   -  5334.60

Major Support        -     5312 – 5294
Major Resistance  -     5359 – 5387 – 5399



View


The markets traded indecisive to close with a spinning top formation on end of the day candlestick chart patterns. Tomorrow is expiry and choppiness could continue. Indices have supports @ 17570 for the Sensex and 5312 for the Nifty. Below these levels major supports should be watched @ 17471 and 5294 for the two indices respectively. On the higher side for today watch resistance @ 17712 for the Sensex and 5359 for the Nifty. The markets could trade between the immediate support and resistances for today. Hold a scrip specific view. Happy Investing & Happy Educating!

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