Market View for Friday 10 Aug 2012

Index Levels

BSE Sensex 17560.87

Major Support 17516 – 17456 – 17417
Major Resistance 17702 – 17726


NSE Nifty 5322.95

Major Support 5312 – 5295 – 5281
Major Resistance 5368 – 5377 – 5385


View


The markets traded choppy to close with an indecisive spinning top pattern on candlestick charts. Today is the last day of the week and could again be same like the earlier two days. Also let’s remember that next week is a holiday week with Wednesday being a holiday on account of Independence day. For today watch yesterday’s high and low as crucial levels of support and resistance. Weakness could persist as we trade at the top end of the range of 5350 and 5040 levels. At these levels the weightage is more towards the down trade then the up trade. Hold a scrip specific view. Happy Investing & Happy Educating!

Market View for Wednesday 08 Aug 2012

Market View for Tuesday 07 Aug 2012

 
Index Levels


BSE Sensex 17412.96

Major Support 17313 – 17164 – 17026
Major Resistance 17451 – 17582 – 17631


NSE Nifty 5282.55

Major Support 5260 – 5195 – 5164
Major Resistance 5293 – 5336 – 5348




View
The markets opened with a gap up opening taking cues from the global markets. The later trade for the day was sideways. The current close is in between the gap which the markets had left in mid July. Yesterdays high and low will play an important role for the trade in the markets today. There are no serious cues coming in today and therefore the markets would be in search of triggers. If we cross resistance @ 17451 for the Sensex and 5293 for the Nifty we could have yesterday’s euphoria continuing further. Till the indices do not cross these resistances we could see consolidation happening in the markets. Traders should avoid trading in the consolidation. Investors should hold a scrip specific view and look at stocks which have come up in the stock assist. Happy Investing & Happy Educating!