Market View for Friday 06 Jan 2012

Index Levels

BSE Sensex 15857.08

Major Support 15809 – 15789 – 15640

Major Resistance 15980 – 16004 – 16049

NSE Nifty 4749.95

Major Support 4730 – 4720 – 4675

Major Resistance 4779 – 4800 – 4839


View
The markets closed with an indecisive pattern on candlestick charts. The formation was Doji which tells us that the markets players are confused of the direction of the markets and therefore the highs and lows are important for deciding the further direction. With this view supports should be watched @ 15809 for the Sensex and 4730 for the Nifty. On the higher side resistance comes in @ 15980 for the Sensex and 4779for the Nifty. Between these levels the indecisive mood could continue. The volumes currently have dried up which sends a message that one needs to be cautious before entering a trade. Hold a low profile…
Market View for Friday 06 Jan 2012

Market View for Thursday 05 Jan 2012

Index Levels

BSE Sensex 15882.64

Major Support 15822 – 15789 – 15640

Major Resistance 16004 – 16049 – 16133

NSE Nifty 4749.65

Major Support 4728 – 4720 – 4675

Major Resistance 4782 – 4800 – 4839


View
The markets traded sideways and indecisive as the global markets had nothing to stimulate and so did the domestic cues. Horrible volumes less than 50% of the normal traded volumes on the Indian bourses. People have money but the policy paralysis is taking a toll on the markets. Businessmen have forgotten that businesses are done with passion and not with egos. Come on the world is big and why make it small. I am personally fed up of the situation. Hope god gives brains to all. Sensex has a support @ 15822 and Nifty has it @ 4728 levels. On the higher side the resistance comes in @ 16004 for the Sensex and 4782 for the Nifty. With spinning top formations these levels will play an important role for the day. Hold a low profile.

Market View for Wednesday 04 Jan 2012

Index Levels

BSE Sensex 15939.36

Major Support 15789 – 15640

Major Resistance 15970 – 16049 – 16133

NSE Nifty 4765.30

Major Support 4720 – 4675

Major Resistance 4773 – 4800 – 4839


View
The markets traded on low volumes and continued to move up as the world markets gave positive vibes. This was a long awaited move of correction for the sold off market. Today the cues which come in from global markets are indecisive and therefore the markets are expected to remain sideways. The Sensex has a support @ 15789 and Nifty has it @ 4720. On then higher side resistance comes in @ 15970 for the Sensex and 4773 for the Nifty. Stocks are not showing any signs of bullishness or bearishness and therefore it is better to hold a low profile for the day.

Market View for Tuesday 03 Jan 2012

Index Levels

BSE Sensex 15517.92

Major Support 15358 – 15135

Major Resistance 15542 – 15694 – 15887

NSE Nifty 4636.75

Major Support 4588 – 4531

Major Resistance 4645 – 4690 – 4756


View
The markets traded with dizzy volumes and choppy moves as there were no cues coming from the global front with all the major stock exchanges closed on account of new year. Today the cues coming in are positive and our markets are expected to open gap up. This is something which markets players should be cautious of as this move if without volumes can fail. It is better to wait for extra confirmation and then enter a trade in such a market. Sensex has a support @ 15358 and Nifty has it @ 4588 levels. On the higher side next levels for the indices could be 15694 – 15887 for the Sensex and 4690 – 4756 for the Nifty. Hold a scrip specific view…