First of all, EquityPandit.com team wishes you all and your family a very Happy New Year and may this New Year load you up with wealth, prosperity, good health and happiness. In this coming new year, new are the hopes and aspiration, new is the resolution, new are the spirits and forever our warm wishes are for you and your family
The Indian stock market has managed to stay above the crucial supports of 9495 and has stayed flat the entire trading session and thus bringing an end to a very bad year for the stock markets. Hope 2009 turns out to be a good trading year.
Year 2009 would surely be a better year than 2008 for stock market and investments. But the first few months would be hard. Breaking level for nifty would be 2800, breaching this point would mean that one could again see October 2008 lows. Till than nifty would be range bound. We don’t suggest long or medium term deliveries at this time. Good time for short term deliveries (say a day or two), not a very good time for trading ( in margins or F&O).
BSE Sensex: (9647) The support for the Sensex is 9495 and the resistance to the up move is at 9675-9990.
NSE Nifty: (2959) the support for the Nifty is at 2900 and the resistance to the up move is at 3035.
Factors to be watch out: Inflation and much awaited second stimulus package.
For any queries, suggestion and thoughts, kindly post a comment below.