Index Levels
BSE Sensex - 17766.78
Major Support - 17728 – 17694 – 17575
Major Resistance - 17810 – 17822 – 17972
NSE Nifty - 5363.45
Major Support - 5349 – 5343 – 5309
Major Resistance - 5375 – 5399 – 5448
View
The cues coming in from global markets today are weak and our markets are expected to open with a gap down opening. Closing yesterday on candlestick charts was a spinning top formation which suggests the current mood of the markets players which is indecisive. For today watch yesterday’s highs and lows as trend decider levels. At current levels the markets have reached a 50% correction of the move from 5400 to 5200 levels witnessed in August. This also makes the current level very crucial as the strength could weaken with the Nifty having left a gap as it moved up 4 days back. Nifty correcting down to 5240 cannot be denied at this point in time. Hold a scrip specific view… Happy Investing & Happy Educating!
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