According to ICICIdirect.com’s report, the Sensex has supports at 13610 and 13480 and resistances at 14030 and 14290.

ICICIdirect.com’s report:

We expect the Indian market to open flat and trade volatile. Until the new government presents its Budget, expectations will build up and we may not see a major correction in the market. The Indian market closed an extremely volatile session lower on Monday. An intra-day rebound proved short lived, as weak global cues and continued profit taking weighed on investor sentiments. Trading remained choppy throughout the day ahead of the expiry of the May series F&O expiry on Thursday. Second-line stocks continued to outperform frontline stocks.

The Sensex has supports at 13610 and 13480 and resistances at 14030 and 14290. The Nifty has supports at 4190 and 4150 and resistances at 4290 and 4330.

Asian markets were mixed on Tuesday in very choppy trade after a US holiday with stocks weaving in and out of negative territory as investors remain wary over regional security.

US stocks fell for the fourth day on Friday on persistent worries about the US Budget deficit, with US Treasuries and the dollar losing ground. Investors have reduced positions in US assets due to concerns about the country’s debt. However, multinationals and commodity companies limited the losses of major US stock indices as investors bought stocks in sectors that could benefit from the weaker dollar, while energy shares climbed on bets overseas demand would support energy prices.

source: Moneycontrol

Tags: hot tips, icici direct, icicidirect.com, nifty technicals, sensex, sensex resistance, sensex support, sensex technicals

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