Market Outlook: Indian equities expected to open gap down today & trade cautious ahead of Obama's induction and may see range momentum on the board. Sensex is likely to be range bound between 9,000-9,800 for the near term. Bad corporate results would be a sentiment impact. Markets will watch out for global cues and big earnings over the next few days, which will set the trend going forward.All eyes on Obama's speech for booster
Obama's speech gains importance in the face of current economic downturn. “Till such time the US economy recovers, emerging markets like India will see outflow of foreign fund money. A short-term rally on expectations of huge stimulus package from Obama is on the cards. Obama's focus will be largely on the economic and unemployment front. Any positive directive from him may possibly encourage a short-term rally in the Indian markets
Nifty Outlook: Pivot level: 2844
R1: 2869, R2: 2893, R3: 2917
S1: 2821, S2: 2796, S3: 2773
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