Equities are likely to open their last trading day of 2008 on a firmer note.

Market Outlook: A firm opening is likely to be in Indian markets tracking global momentum as last trading day of 2008 on a firmer note. Expect Nifty to sustain above 3000 level. OI levels remain low while market will see stock specific action on news.

Analysts’ Picks: RCOM, Greaves Cotton, Apollo Hospitals Enterprise

Intraday, pivot in the Nifty is pegged at 2950 points. Resistance is pegged at 3005-3015 points and above at 3040-3060 points. A break below pivot can test 2928 and 2905 points. As anticipated, we have seen two bullish candles; can the bulls finish in style or the bears show their presence on the last day of the year – needs to be seen

From the Monday's low of 2813 points, the Nifty has rallied 186 points in two days. It has retraced 61.8% (2996) of the recent fall from 3110-2813 points. Bulls protected their territory at 2800 points; now it is going to be their testing around 3005-3015 points. If it decisively crosses it then next resistance is pegged at 3060 and 3085 points. Crucial support in declines is at 2915 while as long as 2860 points is not breached in close; the bulls are safe but cannot rest in peace as they have a task on their hands