Market View for Friday 30 Mar 2012

Index Levels

BSE Sensex 17058.61

Major Support 17008 – 16920 – 16828

Major Resistance 17109 – 17245 – 17366


NSE Nifty 5178.85

Major Support 5135 – 5076

Major Resistance 5194 – 5236 – 5277


View

The markets witnessed the March expiry on a dull note. The markets traded sideways and so did most of the stocks. The mont of April is full of triggers like earning numbers, RBI policy etc. Today is the last day of the week and should play an important role in deciding the trend for the new contract month. The indices have closed near recent lows / bottoms. This is an important level which all need to watch closely. This makes todays closing which also is the weekly closing an important close. Levels mentioned above can be tracked as important supports and resistances. Gap up gap down opening can prove to be a spoil sport. But for the day and intraday positions keep a track of Intraday Action Viewer.

Market View for Thursday 29 Mar 2012

Index Levels

BSE Sensex 17121.62

Major Support 17040 – 17021 – 17008

Major Resistance 17245 – 17366 – 17458


NSE Nifty 5194.75

Major Support 5170 – 5076

Major Resistance 5236 – 5277 – 5312


View

The markets traded yesterday subdued with expiry on cards today. Today is expected to be a same day. For today watch support @ 17040 and for the Nifty @ 5170. On the higher side for the Sensex watch resistance @ 17245 and 5236 for the Nifty. Supports to be watched closely for the day. If these are broken then expect a major sell off to happen. But choppy activity at these levels should be handled with care. Hold a Low Profile..

Market View for Wednesday 28 Mar 2012

Index Levels

BSE Sensex 17257.36

Major Support 17061 – 17021 – 17008

Major Resistance 17377 – 17458 – 17586


NSE Nifty 5243.15

Major Support 5184 – 5174 – 5171

Major Resistance 5278 – 5312 – 5385


View

The markets closed on an indecisive note with a DOJI formation on daily charts. With expiry tomorrow the markets are expected to continue trading in the same way. Anything if happens should be expected only on Friday after the March derivative contracts expire. For today the highs and lows of yesterday would play an important role. Support comes in @ 17061 for the Sensex and 5184 for the Nifty. On the higher side resistance comes in @ 17377 for the Sensex and 5278 for the Nifty. Hold Of Low Profile…

Market View for Tuesday 27 Mar 2012

Index Levels

BSE Sensex 17052.78

Major Support 17021 – 17008

Major Resistance 17215 – 17377

NSE Nifty 5184.25

Major Support 5174 – 5171

Major Resistance 5229 – 5274


View
The markets sold off amidst choppy trade and scrip specific activity. This is an expiry week and therefore the markets are expected to stay choppy we enter the new contracts. With a gap up opening the markets should be handled with care cause with such a move usually the markets tend to enter a sideways move for the rest of the day. Today could be a day of relief for the markets and a breather is insight. The current short term charts suggest that the markets have made a lower top and thus the levels of 17008 for the Sensex and 5171 for the Nifty are important supports. If these levels are broken then in the short term we would make a lower bottom thus suggesting that in the immediate short term the markets have entered a down trend. Till such a time we can surely think of longs. On the higher side resistance exists @ 17215 – 17377 for the Sensex and 5229 – 5274 for the Nifty. Hold a Low Profile…