Market View for Friday 02 Mar 2012

Index Levels

BSE Sensex 17583.97

Major Support 17463 – 17381

Major Resistance 17714 – 17919 – 18001


NSE Nifty 5339.75

Major Support 5297 – 5268

Major Resistance 5372 – 5424 – 5458


View

The markets traded choppy and indecisive throughout the day. Though the buying was missing so was the selling which did not continue for long. The choppy trade continued with stocks as well. With lack of triggers and major events coming in the next two weeks the markets are expected to trade dull and sideways. For the Sensex watch support @ 17463 and for the Nifty @ 5297 levels. On the higher levels Sensex has a resistance @ 17714 and Nifty has it @ 5372 levels. Hold a scrip specific view.

Market View for Thursday 01 Mar 2012

Index Levels

BSE Sensex 17752.68

Major Support 17677 – 17638 – 17545

Major Resistance 17919 – 18001 – 18198



NSE Nifty 5385.20

Major Support 5352 – 5343 – 5310

Major Resistance 5424 – 5458 – 5479


View

The markets traded choppy with low volumes as the players face tough GDP numbers. Falling growth did subdue the markets but did not materialize into a sell off. The trend is expected to continue today again. Supports should be watched @ 17677 for the Sensex and 5352 for the Nifty. On the higher side resistance should be watched @ 17919 for the Sensex and 5424 for the Nifty. Election results for UP, RBI policy, Union Budget, Greece are some events which have started inducing indecisiveness in the markets. As these events are completed the markets should decide its direction. Therefore this is a period to keep your bull horns and bear tails in the closet. Enjoy a low profile till we have clarity on these issues.