Tuesday, December 08, 2009

Markets moving Northwards!

The markets closed in red today. It was expected on profit booking after yesterdays nice rally though. 17k on Sensex and 5k on Nifty still holds and positively maintain yesterdays prediction.
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Today Nifty closed above 5100 at 5147.95, more than 81 points than yesterdays close. The Sensex also gained 244 points closing at 17227. The Indian stock markets have hovered arounf 17K and 5K respectively for a long time now and have built a good support level I think.

If we close on even higher levels for this week, my guess is we can see a nice run northwards. Any takers to this view?

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sunny said...

The market is trying to move north but is facing lots of resistance due to profit bookings and any rally day is having a bad fate in last one hour when market gives up most of it's gain. I guess the earning season will improve the investor confidence and the resistance will also go away. That time, the market will be truly northbound :)

Sunny said...

Now forget technical, forget fundamentals, its all sentiments... if Euro zone continues this way, the market will be totally southbound!!!
P.S. The FIIs have been smoothly taking their money away from all Asian markets...