Market overview , Dec16'2008

Good Morning..........!!!

Welcome to a New Trading Day in India.

The Last trading day has shown good amount of resiliance in the trading range of 2850- 3000 levels in NIFTY.

The US markets traded weak on monday with the speculations that the 2 day interest rates cut will b below the expectation, thereby closing the US (DOW and NASDAQ composite) , the latin American and the European Markets pretty lower.....

The weak sentiments of the WEST again saw a replica in the ASIAN Markets, with the NIKKEI, the KOSPI , HANGSENG and the SHANGHAIi opening WEAK... 

Todays' tradeing session wiill be a real test for INDIAN markets, which are overpowering every bad news  and gaining strength at all intraday LOWS with the FIIs And DIIs contributing to the buying sentiments.

According to us Nifty on Dec16,2008 shall open marginally lower and trade volatile in a trading range whole day but the 2952 stands a a strong level, if NIFTY sustains velow this level we may test lower levels till 2915  - 2885, Uptrend can only b expexted above 3095 levels and close above this will give a good support for the short term.