Market View for Friday 21 Sep 2012

Index Levels BSE Sensex 18349.25 | NSE Nifty 5554.25 Major Support 18292 – 18284 – 18062 | Major Support 5534 – 5528 – 5447 Major Resistance 18443 – 18580 – 18619 | Major Resistance 5581 – 5620 – 5631   View The markets opened with a gap down opening and continued to trade choppy. All this amidst the political turmoil happening with the government’s existence. As we get into trade today we need to closely watch supports @ 18292 for the Sensex and 5528 for the Nifty. These are important supports for the markets cause if these levels are broken then the indices could sell off big as they have a gap to fill. On the higher side resistance should be watched @ 18443 and 5581 for the Sensex and the Nifty. Between these levels expect the markets to trade choppy. Traders should enter trades only if the nifty moves either above or below these levels. Investors should continue their scrip specific approach. Happy Investing & Happy Educating!