Market Outlook Jan 03 2011

The markets rang out 2010 with solid gains in the last trading session of the year. Despite a slide early in the year on growing concerns about the Eurozone, most Asian equities came back strongly. The Indian market is poised for good gains in 2011 after rising 15% in 2010. With the government projecting the economy to grow at 9%, and record FII flows seen this year, India is set to outpace its peers and developing markets in 2011.

The Sensex closed the last session on a positive note closing above 20,500 while the Nifty settled at 6,134, about 220 points away from its all-time high that it hit in January 2008. Experts feel the Nifty is poised to take out 6350 in the first quarter of the new year and see a further upside of 8-10% from thereon for the next three to four months post scaling new highs.


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 6154.
The [R2] or the extreme high trading range is 6130.
The [R1] or the high trading range is 6110.
The [P] or pivot point is 6086.
The [S1] or the low trading range is 6066.
The [S2] or the extreme low trading range is 6042.
The [S3] or the most extreme low trading range is 6027.



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