Market Outlook Dec 31 2010

The benchmark Nifty closed the settlement day for December above the 6100 mark for the first time since November 15, led by support from power, capital goods, technology, metal, auto, FMCG and select healthcare companies' shares. HDFC, ICICI Bank, Bharti and Reliance Industries were also on buyers' radar. Indices saw good spike up in last half an hour of trade.
Avoid Financial & Realty stocks . In view of increase in food inflation and inflation RBIs stance to be observed any tightening measures may impact these sectors


Next Day Trading Ranges : Key Resistences and Support Areas

The [R3] or the most extreme high trading range is 6149.
The [R2] or the extreme high trading range is 6108.
The [R1] or the high trading range is 6084.
The [P] or pivot point is 6043.
The [S1] or the low trading range is 6019.
The [S2] or the extreme low trading range is 5978.
The [S3] or the most extreme low trading range is 5954.



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