Market Outlook Jan 25 2011

Friday was a quiet and rangebound session for the markets. Earnings disappointments from heavyweights like Wipro, and muted Asian cues kept sentiment muted.

The Nifty closed the session at 5,696 down 15 points, while the Sensex closed at 19,007, down 39 points.

We expect the Nifty to trade in rangebound with positive bias , the anticipation of RBI increasing rates to 25 basis points seems to have been absorbed in the market , Currently the market and good stock is in oversold and a bounce back can be expected in near term


Next Day Trading Ranges : Key Resistences and Support Areas

The [R3] or the most extreme high trading range is 5778.
The [R2] or the extreme high trading range is 5747.
The [R1] or the high trading range is 5723.
The [P] or pivot point is 5700.
The [S1] or the low trading range is 5685.
The [S2] or the extreme low trading range is 5671.
The [S3] or the most extreme low trading range is 5624.


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