Market Outlook: Indian markets are expected to see a gap down opening on the back of bad global cues. A dismal picture was seen on the US economic front with retail sales dropping 2.7% in December and import and export prices falling for fifth straight month. Back home all eyes are eying on Inflation if the numbers are lower then expected, buying might emerge in late trade.
Nifty Outlook: Pivot Level: 2812
S1: 2770, S2: 2700, S3: 2666
R1: 2835, R2: 29.17, R3: 2981
On global front: US markets fell sharply as worries about more credit losses in the banking sector and the earnings season weighed on stocks. Nortel Networks Corp, North America's biggest telephone equipment maker, filed for bankruptcy.
Back home, annual inflation rate, scheduled to be announced later Thursday, is expected to have eased to a 11-month low to 5.28% in the 12 months to Jan 3, compared with 5.91% in the previous week on a declining trend in prices of manufactured goods and food items.
Nifty Outlook: Pivot Level: 2812
S1: 2770, S2: 2700, S3: 2666
R1: 2835, R2: 29.17, R3: 2981
On global front: US markets fell sharply as worries about more credit losses in the banking sector and the earnings season weighed on stocks. Nortel Networks Corp, North America's biggest telephone equipment maker, filed for bankruptcy.
Back home, annual inflation rate, scheduled to be announced later Thursday, is expected to have eased to a 11-month low to 5.28% in the 12 months to Jan 3, compared with 5.91% in the previous week on a declining trend in prices of manufactured goods and food items.
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