Market View for Thursday 15 Mar 2012

Index Levels

BSE Sensex 17919.30

Major Support 17837 – 17680 – 17494

Major Resistance 18040 – 18198 – 18249


NSE Nifty 5463.90

Major Support 5437 – 5391 – 5327

Major Resistance 5499 – 5521 – 5537


View

The markets have been witnessing gap up opening for the last 4 trading sessions. And due to the cautious optimism in the markets mercy the Union Budget scheduled on Friday after a buoyant opening the trading has remained choppy with scrip specific activity. With global cues continuing to be strong our markets would continue the current pattern of their moves. This is expected to happen till Friday when everybody would be glued to the television sets to interpret the Union Budget. for the day watch support for the Sensex @ 17837 and for the Nifty @ 5437 levels. On the higher side resistance should be watched @ 18040 for the Sensex and 5499 for the Nifty. Till the markets stay above the supports expect the mood to stay bullish. Hold a scrip specific view…

Market View for Wednesday 14 Mar 2012

Index Levels

BSE Sensex 17813.62

Major Support 17680 – 17494 – 17414

Major Resistance 17842 – 18001 – 18198

NSE Nifty 5429.50

Major Support 5391 – 5327 – 5294

Major Resistance 5438 – 5458 – 5521


View

Watch IIP numbers which will be announced. The bullishness is expected to continue. The markets are expected to open with a gap up opening. Scrip specific action is expected to continue throughout the day with choppy activity in the overall market. For the Sensex watch support @ 17680 and for the Nifty @ 5391 levels. On the higher side resistance exists @ 17842 for the Sensex and 5438 for the Nifty.

Market View for Tuesday 13 Mar 2012

Index Levels

BSE Sensex 17587.67

Major Support 17494 – 17325 – 17008

Major Resistance 17772 – 18001

NSE Nifty 5359.55

Major Support 5327 – 5294 – 5171

Major Resistance 5421 – 5458


View

The markets are expected to stay calm as market players get ready for the Budget this week. Till the time the lows made on the last Wednesday are broken the market would continue to stay afloat moving up slowly. For the Sensex support should be watched @ 17494 and for the Nifty @ 5327 levels. On the higher side the resistance should be watched @ 17772 for the Sensex and 5421 for the Nifty. At higher levels the markets would face difficulty sustaining. Choppy trade will continue. Hold a scrip specific activity.