Market Review for 31st July 2009

BSE Sensex: (15388) we said ‘we now have a F&O expiry and a close below 15000 would make the market bearish’ the market never traded below 15000 and managed to stay above it and closed positive for the day… come to think of I had expected a flat close because technically the market had generated a good sell few days earlier…but the market closed surprisingly Strong because it was the short squeeze that drove the market up…now the day ahead is a very important day as now the shorts have covered and it will only be a fresh buying that will take the market up. Friday is the last day of the week and also last day of the month and the market is at cross roads now and who knows what will happen?

The support for the Sensex is 15000 and the resistance to the up move is at 15600-16046

Nifty: (4571) the support for the Nifty is at 4500 and the resistance to the up move is at 4700-4789

Labels: Market Review

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