Hi,Guys
After a long break I am back!
The markets this week!(4th Feb,2012)
This week,the market witnessed lots of happening news,the Supreme Court Verdict about the Cancellation of telecom licences being at the top.Some scrips gained in the Telecom sector while others were crushed badly.Hathway and Bharti Airtel were up by 9% and 3.47% respectively.The Stocks that fell were Rcom (-2.75%),Tata Comm (-1.19%),Idea (-0.64%) and TTML (-0.31%)
The Rupee which appreciated 7% in the month of January,is still positive with Fridays close at 48.70.
Nifty has slightly closed above its very strong resistance of 5322 at 5325.85.It has to be seen whether Nifty can maintain this level and move upwards further.After this 5422 is a major level of concern for Nifty.On the downside,Nifty has a strong support at 5219.Nifty on 1st feb crossed above the 200 day simple moving average indicating bullishness.
On the banking Front last week,Union Bank(6.74%),Kotak Bank (5.22%) and HDFC Bank (4.55%) were the top gainers.
Sensex,with its current close at 17604.96 is looking ahead to take resistance at 17671.It has to be noted that this week's Sensex candle has given a close above last week's Doji Star pattern indicating bullishness.
Nifty Support levels for next week are 5156 and 4987 (not to forget 5219)
Sensex Support levels for next week are 17078 and 16552
Nifty resistance levels for next week are 5414 and 5503
Sensex resistance levels for next week are 17880 and 18156
After a long break I am back!
The markets this week!(4th Feb,2012)
This week,the market witnessed lots of happening news,the Supreme Court Verdict about the Cancellation of telecom licences being at the top.Some scrips gained in the Telecom sector while others were crushed badly.Hathway and Bharti Airtel were up by 9% and 3.47% respectively.The Stocks that fell were Rcom (-2.75%),Tata Comm (-1.19%),Idea (-0.64%) and TTML (-0.31%)
The Rupee which appreciated 7% in the month of January,is still positive with Fridays close at 48.70.
Nifty has slightly closed above its very strong resistance of 5322 at 5325.85.It has to be seen whether Nifty can maintain this level and move upwards further.After this 5422 is a major level of concern for Nifty.On the downside,Nifty has a strong support at 5219.Nifty on 1st feb crossed above the 200 day simple moving average indicating bullishness.
On the banking Front last week,Union Bank(6.74%),Kotak Bank (5.22%) and HDFC Bank (4.55%) were the top gainers.
Sensex,with its current close at 17604.96 is looking ahead to take resistance at 17671.It has to be noted that this week's Sensex candle has given a close above last week's Doji Star pattern indicating bullishness.
Nifty Support levels for next week are 5156 and 4987 (not to forget 5219)
Sensex Support levels for next week are 17078 and 16552
Nifty resistance levels for next week are 5414 and 5503
Sensex resistance levels for next week are 17880 and 18156
Hey, Welcome back...........
ReplyDeleteWe missed you and your articles.
---- Ketaki V