Market Outlook Dec 16 2010

lack of any imporatant cues in world markets left the markets flat. US markets ended in red post trading at 2 yr high for last 2 days.
Important Events to watch today for world markets:
1. EU summit to start , Discussion regarding the Supporting of econmoies like spain ,portugal ,ireland etc can provide a direction wrt to uncertainities european countries debt problem.

On Domestic market RBI to announce credit policy , expectataions from most of the brokergares that REPO, REV REPO and CRR rate may not be changed , This should give some good cues for the Banks, Realty,HFC companies to make up move .
Nifty Traded near is resistence level most of the time , support level of 5890 was tested and it raised from that level to 5944 ,No significant move on either side below 5890 and above 5980 was noticed and Nifty finally
nifty ended at 5890 pausing the 3 days pull back recovery .

No major cues are present from world market hence further direction for today to be guided by RBI credit policy we expect Nifty to make positive move in case the RBI policy favourable .If nifty manages to cross the 5971/5980 range it should make a significant move till 6065 else it should be trading within the range of 5890 -5980 .

Crude has fallen in price and Price hike from OMC should be favourable for the OMC - watch BPCL /HPCL/IOC for positive side.

Long positions should be intiated only when nifty makes move above 6065 level . Any positive move tommorrow shoudl see more

Inspite of Yesterday weakness in market , Bharath forge and Hanung toys moved in positive direction and met our target expectations. we hope the investors has benefitted.

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