Year 2009 ended on a firm note for the Indian Capital market amid still persisting uncertainty globally. S&P CNX Nifty closed at 5201.05 with excellent rollover being witnessed in the futures & options (F&O) into the January 2010 series.
The global market mood will continue to play a major role going ahead, besides as the result season commences from the second week of January that could provide a precursor for any fresh direction.
Technically, on the upside the Sensex faces resistance at the 18115 and 18700 levels but seeks support at the 17300 and 17100 levels. Nifty faces resistance at the 5230, 5303 and 5485 levels while 5150 and 4957 are its important support levels.
Positively trend is likely to continue for the coming week.
We believe for the year ahead 21000 and 22000 are highs that we can achieve and even go down as low as 15000 and 14000. Mostly positive trend in the first two quarters and thereafter high volatility is expected.
The global market mood will continue to play a major role going ahead, besides as the result season commences from the second week of January that could provide a precursor for any fresh direction.
Technically, on the upside the Sensex faces resistance at the 18115 and 18700 levels but seeks support at the 17300 and 17100 levels. Nifty faces resistance at the 5230, 5303 and 5485 levels while 5150 and 4957 are its important support levels.
Positively trend is likely to continue for the coming week.
We believe for the year ahead 21000 and 22000 are highs that we can achieve and even go down as low as 15000 and 14000. Mostly positive trend in the first two quarters and thereafter high volatility is expected.
0 comments:
Post a Comment