Market Outlook: Market to be volatile due to many important results, which may see a short covering rally in the market. All Eyes on Inflation figures which is expected to be near 5.05 % on Jan 10 vs 5.24 % a week earlier The Nifty is likely to be range bound between 2660-2860 for the near-term. Market is waiting for some positive news event to stabilize. Only then, will there be any upside. Reliance Industries & SBI will be the leading stocks and will set the trend so watch the two stocks for judging the mood of the market. We expect a positive surprise from RIL results, as the fall in net profit is likely to be less than expectations.
Nifty Outlook: Pivot level: 2727
R1: 2765, R2: 2825, R3: 2862
S1: 2668, S2: 2630, S3: 2571
On the Global front: US stocks jumped on Wednesday to score their largest daily percentage advance since Dec 16, 2008, after a surprisingly healthy earnings report from IBM fueled optimism that technology profits may fare better than other sectors during the recession.
Back Home Indian annual inflation seen at 5.05 pct on Jan 10 vs 5.24 pct a week earlier. India's annual inflation rate should have fallen to an 11-month low in the second week of 2009 as prices of manufactured goods dropped
Nifty Outlook: Pivot level: 2727
R1: 2765, R2: 2825, R3: 2862
S1: 2668, S2: 2630, S3: 2571
On the Global front: US stocks jumped on Wednesday to score their largest daily percentage advance since Dec 16, 2008, after a surprisingly healthy earnings report from IBM fueled optimism that technology profits may fare better than other sectors during the recession.
Back Home Indian annual inflation seen at 5.05 pct on Jan 10 vs 5.24 pct a week earlier. India's annual inflation rate should have fallen to an 11-month low in the second week of 2009 as prices of manufactured goods dropped
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