Yesterday: Indian Stock Market closed as predicted in positive. Although the gain was minimal, the indices were in uptrend.

Today : Market may open with some downtrend. President-elect Mr. Barack Obama is going to take oath today, so market would surely react according to global cues. The 9430 mark is very important for sensex, once the market crosses this level market may see some uptrend.

BSE Sensex: (9330) The first target for the Sensex is 9430. The support level would be 9200 and the resistance to the up move is at 9530-9700

NSE Nifty: (2846) the target for the Nifty is at 2850. The support level would be 2740 and the resistance to the up move is at 2880-2920

Today’s Pick:

– Buy RIL when market is down.

– Go short in DLF and India Bulls Real estate

Data to watch: Global market, Third quarterly results.

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