Market View for Wednesday 04 Apr 2012

Index Levels


BSE Sensex 17597.42

Major Support 17570 – 17429 – 17382

Major Resistance 17664 – 17687 – 17871


NSE Nifty 5358.50

Major Support 5344 – 5296 – 5278

Major Resistance 5378 – 5385 – 5445


View

The markets opened with a gap up opening and trade indecisive throughout the day. The last two days have been identical with the markets moving up slowly during the first half of the day and later selling off. Today is the last day of the week with a long weekend ahead the markets could trade jittery and subdued. A gap up opening could take away the energy out of the markets. For today watch support for the Sensex @ 17570 and for the Nifty @ 5344 levels. On the higher side resistance should be watched @ 17664 for the Sensex and 5378 for the Nifty. Hold a scrip specific view…

Market View for Tuesday 03 Apr 2012

Index Levels


BSE Sensex 17478.15

Major Support 17382 – 17260 – 17117

Major Resistance 17529 – 17586 – 17687


NSE Nifty 5317.90

Major Support 5278 – 5251 – 5206

Major Resistance 5331 – 5361 – 5385


View

The markets traded indecisive with a spinning top formation on candlestick charts on the end of the day closing basis. Undercurrent remained positive with choppy trade. The same trend will continue for the next two days. Investors need to watch the recent lows as crucial supports because of the falling trend line level. Till these levels are intact there is no reason for one to panic. If the markets stay afloat they will rally in the days to come. The next week to witness the start of yearly earnings announcements. This could bring in high levels of choppiness in the markets. One should always remember that creativity is a very good thing but when it comes to the stock markets creativity is counted with money. Creativity with the knowledge of limits and clarity is important. Its your money and nobody can care about it then you yourself. For today hold a scrip specific view. The indices may not do much but scrip specific action will continue. Investors can come across a lot many stocks which are looking good for investment and these opportunities should be cashed in. With a spinning top formation on EOD basis the high and low would play an important role as support and resistance for today. Watch support @ 17382 for the Sensex and 5278 for the Nifty. On the higher side resistance should be watched @ 17529 for the Sensex and 5331 for the Nifty. Hold a scrip specific view… Patience not in terms of the great yogis but a little passive enthusiasm can do wonders in the stock markets. HAPPY INVESTING AND HAPPY EDUCATING!

Market View for Monday 02 Apr 2012

Index Levels

BSE Sensex 17404.20

Major Support 16920 – 16828 – 16667

Major Resistance 17439 – 17687 – 18040


NSE Nifty 5295.55

Major Support 5135 – 5076 – 5025

Major Resistance 5307 – 5385 – 5499


View

The markets sold off during the first half of the last week eventually closing with gains on most of the losses. We are facing the aftermath of the Budget and this is not the first time that the Finance Minister of India has lead to this. Clarity on important decisions has always been an issue when declared in the budget. The power of money today as we all know is with the foreign institutions. Retailers continue to live in their own worlds juggling between their own guts and a few crore free advisors / commentators / blog writers / websites / business channels / newspapers etc. We all need to bring awareness in the retailers that using Technical Analysis will help in developing a decision making quality without the nuisance of being mislead. Anyways one should always remember that controlling oneself in falling into such traps can help a lot. The announcement of the names of investors not to tracked in case of Participatory Notes helped the market’s rally. If this is true then this decision should help the market’s rally further. The current formation on weekend charts is positive with the indices having taken support on the falling trend line drawn joining all the recent tops. This support should be watched @ 16920 – 16828 for the Sensex and 5135 – 5076 for the Nifty. This is a 3 day week with holidays on Thursday and Friday. Being a 3 day week the markets could remain subdued. The 3 days could be bullish because the settlement for Friday and Monday is scheduled on Wednesday and the settlement for Wednesday’s trades fall into the next week. Therefore selling in positions may not happen leading to a rally in the markets. Even if the markets do not rally we may not sell off in this short week. April is an eventful month – starting with yearly numbers, Monetary policy and Eurozone crisis. The charts suggest that if we do not break down below the supports coming in from the falling trendline then we should witness a nice rally in the markets. This could happen despite the fundamental story being weak. Continue to have a scrip specific view… Happy Investing & Happy Educating!!!