Wednesday, December 21, 2011

BSE & Bank Nifty Intraday Tips


Weekly: Last week, Sensex broke the important support level of 16000-15752, and finally made a low of 15425 before closing just below the 15500 mark. Now in this week, we may consider resistance at 16000-16100, downward bias to continue, and it will test 14837-15473; whereas some support cannot be ruled out. One Mantra - No buy please.
Today: We may consider support at 15100-15000, break and trade below lower level to test 14800, higher-level resistance at 15350-15450, thereafter it will show strength


Weekly: As mentioned in this column, the strong resistance of 8800-9000, and remaining below weakness to continue. Now we may consider strong support at 8100-8200, decisively break with volume another round of panic expected, higher-level resistance at 8500-8550.
Today: We may consider resistance at 8000-8050, down as remains below weakness to continue, higher-level resistance at 8100-8150. Ultimate target of 6000+.

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