Market Analysis – 2/1/09

Archana’s Analysis:  Well, first day of the year started quiet good. Market had positive rally with sensex and nifty closing in green. Global cues are positive this time hopefully will continue this week. It sems, this year, Nifty will have a strong support at 2300 and will face resistance at 3500. If it breaks the resistance, it can rise up to 4200.

Sensex has got strong support at 9920 and will face resistance at 10100. Market had good kickoff hope it sustains.

Market Closing (1^st Jan):

Sensex:   9903.46        +2.66%                                  

Nifty:       3033.45           +2.45%

 

Predictions for todays trading:

Market Opening (31^st Dec):                   

Sensex:   9940                                    

Nifty:       3020

Market Closing (31^st Dec):                    

Sensex:  9990-10100                                      

Nifty:       3090

 

Today’s Stock Watch: Banking, Finance, IT and Small cap and Midcap.