Index Levels
BSE Sensex - 17313.34
Major Support - 17250 – 17197 – 17026
Major Resistance - 17411 – 17509 – 17557
NSE Nifty - 5225.70
Major Support - 5215 – 5164
Major Resistance - 5259 – 5278 – 5295
View
The markets traded indecisive but with overall weakness throughout the day yesterday. The Nifty is trading above the crucial trend line support. The price formations suggest that the markets are somehow waiting for something and therefore trading with narrow range in the intraday trade. The markets have a gap which they had left behind in the first week of August. At current levels the markets are expected to fill this gap and this could be a decisive moment. For the day watch support @ 17250 – 17197 for the Sensex and 5215 – 5164 for the Nifty. On the higher side resistance exists @ 17411 for the Sensex and 5258 for the Nifty. The markets with lack of triggers could continue to drift southwards. The strong hand in the markets are not selling huge as of now and it is now the government’s job to do something. Today the markets are expected to wait for triggers coming in from Europe. Hold a scrip specific view. Happy Investing & Happy Educating!
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