Market to remain volatile during result season

News Flash

MARKET VIEWS: ICICI SEC: SEE MKTS IN A CONSOLIDATION PHASE FOR NEXT 3-4 TRADING SESSIONS
MARKET VIEWS: ICICI SEC: REMAIN BULLISH ON I.T. SECTOR; TECH STOCKS TO OUTPERFORM MARKETS
PERSISTENT SYSTEMS: HAVE RECENTLY SET UP HYDERABAD SEZ, MAJORITY GROWTH TO COME FROM THERE
PERSISTENT SYSTEMS: 25% BIZ COMING IN FROM THE TELECOM SPACE, 15% FROM LIFE SCIENCES
PERSISTENT SYSTEMS: OPERATING WITH 200 PLUS CUSTOMERS AND 4500 EMPLOYEES CURRENTLY
CRUDE OIL UPDATE: OPEC MINISTERS POISED TO KEEP OUTPUT STEADY WITH OIL OVER $80/BBL
BROKERAGE VIEWS: CREDIT SUISSE: 'OUTPERFORM' ON RIL; COURT DECISION TO DEFINE EPS DOWNSIDE
BNP PARIBAS: FED KEEPING FUNDS TARGET RATE UNCHANGED 'A NON EVENT FOR MARKETS'
FOMC MEET: FEB KEEPS DISCOUNT RATE UNCHANGED AT 0.75%
F&O CUES: STOCK FUTURES SHED 1.03 CRORE SHARES IN OPEN INTEREST
F&O CUES: NIFTY 5200 PUT MOST ACTIVE; 5200 PUT ADDS 19.41 LAKH SHARES IN OPEN INT
F&O CUES: 5100 CALL SHEDS 9.69 LAKH SHARES IN OI
F&O CUES: 5000 CALL SHEDS 5.96 LAKH SHARES IN OPEN INTEREST
F&O CUES: UNWINDING IN NIFTY 5000 AND 5100 CALL OPTIONS
F&O CUES: NIFTY OPEN INTEREST PUT CALL RATIO AT 1.56
F&O CUES: NIFTY FUTURES SHED 8.4 LAKH SHARES IN OPEN INTEREST
SUGAR UPDATE: SUGAR FUTS DROP TO A 7 MTH LOW IN U.S. AS INVESTORS UNWIND LONG POSITIONS
ASIAN MARKETS: COMMODITY STOCKS UP AS CRUDE AND METAL PRICES EASE
ASIAN MARKETS: ASIAN STOCKS BOOSTED BY FED'S COMMENTS ON RATES
COPPER UPDATE: COPPER CLIMBS THE MOST IN TWO WEEKS AS DOLLAR FALLS & INVENTORY DECLINES
GOLD UPDATE: GOLD FUTURES RISE THE MOST IN TWO WEEKS AS DOLLAR DROPS
CRUDE OIL UPDATE: OPEC MINISTERS POISED TO KEEP THE OUTPUT STEADY WITH OIL OVER $80/BBL
CRUDE OIL UPDATE: OIL GAINS THE MOST IN FOUR WEEKS AS DOLLAR FALLS AGAINST EURO
U.S. ECO DATA: FEB HOUSING STARTS FALL 5.9% VS A 6.6% REBOUND IN JAN
U.S. MARKETS: DOW JONES RISES FOR THE 6TH STRAIGHT SESSION; S&P 500 HITS A 17-MONTH HIGH
F&O CUES: NIFTY FUTURES END AT A PREMIUM OF 6.55 PTS VS A PREMIUM OF 3 PTS ON MONDAY
FOMC MEET: FEB KEPT ITS DISCOUNT RATE UNCHANGED AT 0.75%
FOMC MEET: FED TO KEEP RATES NEAR ZERO FOR AN EXTENDED PERIOD
FOMC MEET: FED VOTED TO KEEP FED FUNDS TARGET RATE UNCHANGED
U.S. MARKETS: FED PLEDGES TO KEEP RATE LOW FOR EXTENDED PERIOD

Updated: 18/01/2010 | 05:18 PM IST

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Mandar Jamsandekar

Monday, January 18, 2010 (Mumbai)

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The third quarter earnings season continues. This time the markets seem to have missed the retail investor and this can be clearly observed with the low interest in the markets for the last few weeks.

The recent movement of the markets have been extremely range bound with global investors also maintaining a wait and watch approach.

Last week, the markets managed to close above the crucial supports after having witnessed a selloff in the first two days of the week.

For the coming week, market players need to watch supports at 17,276 – 17,042 for the Sensex and 5,169 – 5,081 for the Nifty. Above these supports, the markets would remain afloat. The volatility in the markets is likely to stay during the result season. Resistance should be watched at 17,776 for the Sensex and 5,300 for the Nifty.

A breakout above these levels could bring in interest in the markets but till such a time it is advisable to maintain a low profile.

BSE Sensex

Major Support: 17276 – 17042 – 16577

Major Resistance: 17776 – 18314 – 18895

NSE Nifty

Major Support: 5169 – 5081 – 4943

Major Resistance: 5300 – 5368 – 5545