Index Levels
BSE Sensex - 17850.22
Major Support - 17792 – 17705 – 17622
Major Resistance - 17972 – 18040 – 18303 – 18523
NSE Nifty - 5415.35
Major Support - 5393 – 5368 – 5341
Major Resistance - 5448 – 5499 – 5561 – 5629
View
The markets opened with a gap up opening and managed to move up in the first half session but finally giving way to sell off during the last hour of trade. This is the type of price movement which we have observed thrice in this week. today is the last day of the week and we get into trade again without much triggers for the markets to move. This is s market where profits should be pocketed. Another observation this week has been that the Nifty manages to move up only if it finds support from the Bank Nifty. If the two charts are compared then they look identical. For today one needs to watch the highs and lows made yesterday as the day end closing on candlestick charts was a DOJI formation. This symbolizes indecision on bulls as well as bears. Lets not forget the August expiry is also coming near and this could further see the markets get choppy. This contract month has witnessed the Nifty move from 5100 levels to 5400 levels therefore it is quite possible that if the Nifty manages to stay above 5350 levels then we could see short covering coming in the markets in the last few days of expiry. But if the Nifty cracks below 5350 levels then that would mean most of traders have been long during this month and now profit booking is setting in. for today lets watch support @ 17792 for the Sensex and 5393 for the Nifty. On the higher side resistance comes in @ 17972 for the Sensex and 5448 for the Nifty. Between these levels it is advisable that traders hold a low profile. Investors should continue to have a scrip specific view. Happy Investing & Happy Educating!
Index Levels
BSE Sensex - 17846.86
Major Support - 17800 – 17705 – 17622
Major Resistance - 17912 – 18040 – 18303 – 18523
NSE Nifty - 5412.85
Major Support - 5394 – 5368 – 5341
Major Resistance - 5433 – 5499 – 5561 – 5629
View
The markets continued the bullish mood yesterday to start the day but failed to sustain the highs. For today again with lack of cues the markets should consolidate. Watch support @ 17800 for the Sensex and 5394 for the Nifty. If the markets stay above these levels then they would continue to hold. On the higher levels resistance exists @ 17912 – 18040 for the Sensex and 5433 – 5499 for the Nifty. Investors should hold a scrip specific view. Traders should wait for the right opportunity. Happy Investing & Happy Educating!
Index Levels
BSE Sensex - 17885.26
Major Support - 17795 – 17705 – 17622
Major Resistance - 18040 – 18303 – 18523
NSE Nifty - 5421.00
Major Support - 5380 – 5368 – 5341
Major Resistance - 5499 – 5561 – 5629
View
The markets moved up again yesterday. The last hour of trade witnessed buying in most of the stocks which helped the index move up. Today the morning cues coming in from the global markets are dull and this could have a dampening effect on yesterday’s bullish sentiment. For today the direction could be best judged after the noon hours. In the morning we could see the markets consolidating / correcting to test supports but the overall undercurrent is expected to stay intact. Watch supports @ 5380 for the Nifty and 17795 for the Sensex. The day could be a flat to choppy today and traders should hold a low profile. Investors can hold a scrip specific view. Happy Investing & Happy Educating!
Index Levels
BSE Sensex - 17691.08
Major Support - 17551 – 17522 – 17313
Major Resistance - 17801 – 18040 – 18303 – 18523
NSE Nifty - 5366.30
Major Support - 5316 – 5309 – 5260
Major Resistance - 5400 – 5499 – 5561 – 5629
View
The markets continued to move up again last week. The close has been above the falling trend line plotted joining all the tops from November 2010. This is one good sign for the markets. Now going forward from here the markets should use these levels as support and move up further from here. If this happens then we would the sentiments in the market improving to further help the indices move up. For this week watch 17522 as support for the Sensex and 5309 as support for the Nifty. On the higher side resistance comes in @ 17801 and 5400 for the Sensex and the Nifty respectively. For further bullishness the markets need to breach these sentimental barriers. Till the time the Nifty stays below these levels it would trade with extreme choppiness. Investors should hold a scrip specific view. Traders should wait for the right opportunities to get into the markets. Happy Investing & Happy Educating!
