Today, we expect the market to open lower as global cues are pretty inconclusive. The Nifty will continue to trade in a range of 4900-5100. Some short covering is not ruled out in the run up to the F&O expiry. Support is expected to kick in at around 4900. Protecting the gains made so far in the year should be the aim instead of loading up more.If only we knew the unexpected, Christmas season would have brought some cheer. With only five trading sessions to go in 2009, don’t get too perturbed by the market movement.
Overall trend has been extremely lackluster and is unlikely to change dramatically anytime soon. Volume has also dipped as traders and investors alike take a pause after a stellar rally. In the New Year, the market will have plenty to consider like fund flows, quarterly earnings, impending rate hike, reversal of fiscal stimulus, budget and global developments. Stay on the sidelines till then.
