Review and Outlook

Market Review for Tuesday, 10th January, 2012 ::

Market came out of the narrow range and closed with a huge gain of more than 100 points to close at 4850. 47of Nifty 50 stocks closed in the green and about 11 stocks closed with a gain of more than 4%. Broader market was very strong with Advance Decline ratio placed at 5:1. Reliance and ICICI Bank together contributed more than 25 points to Nifty’s rise. RPower, M&M, Rel Infra, Hindalco remained as major gainers. 3I Infotec, IRB, KFA, Jindal Steel were the major gainers among F&O stocks.

Market Outlook for Wednesday, 11th January, 2012 :: Opening Session Better… Midsession Subdued …!!!

Nifty closed with a gain of more than 100 points and came out of the recent narrow range. Short term trend continues to remain Bullish and stop loss may be trailed to 4705. Nifty spot is expected to encounter resistance at 4885, 4920 and 4955 and find support at 4815, 4780 and 4745 for Wednesday. While Global cues, Funds flow are expected to broadly guide the market movement, Market might display volatile movements with further uptrend in the Opening Session and subdued mid session (retracement) .