Sunday, December 14, 2008

Market Outlook 15/12/08

Nifty very volatile around 2900 odd..!!

On friday, trading was very volatile and today it may show some direction and Reliance Industries as alway's will be key figure today also.On global front, The Dow Jones industrial average rose 64.59 points to end at 8,629.68.In the latest in the U.S. automakers' attempt to secure a financial rescue, the White House said it could be willing to provide emergency funding to the struggling auto industry, the day after Congress failed to approve a deal.Volume was low on the New York Stock Exchange, with about 1.44 billion shares changing hands, below last year's estimated daily average of roughly 1.90 billion.For today, in indian market nifty will face first resistance around 3950 and if gets past that it will move towards 3980 big resistance where selling will come heavily and on downside, nifty will move towards 2900 first and then 2870 will be tested again and remain below that for sometime, total weekness will come to the market.

n