Index Levels
BSE Sensex - 18000.03
Major Support - 17916 – 17884 – 17711
Major Resistance - 18012 – 18040 – 18198
NSE Nifty - 5431.00
Major Support - 5404 – 5393 – 5363
Major Resistance - 5448 – 5499 – 5537
View
The markets traded strong with support from domestic as well as global cues. The decision taken by the German court being in favour of the European Union saw the overall global markets rally. As we move forward from here the markets should manage to trade with a positive undercurrent. The American markets are near 5 year highs and ideally if the FII’s are bringing in money India should not stay behind. Let’s wait and watch this optimistic view. For today watch support for the Sensex @ 17916 – 17884 and for the Nifty @ 5404 – 5393. Above these levels the markets would continue to trade strong. Today the cues coming in from global markets are indecisive and that could lead to our markets starting the trade flat later getting into a correction or consolidation. The choppiness could also be high as the indices now have reached the August month highs and therefore at these resistance levels the market players could get cautious. Investors should hold a scrip specific view. Stay with stocks picked by Stock Assist on end of the day basis. Traders should wait for opportunities in the intraday trade and remember to pick with confirmations. Happy Investing & Happy Educating!
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