The world is all set to say good bye to a tumultuous 2010 and welcome 2011 with fingers crossed. For the markets, it was a year of consolidation after the big recovery of the previous year. As usual, there was no dearth of events – both nasty as well as positive ones. The Indian market’s performance was clearly among the better ones and the new year is expected to be equally promising.
Today, the start appears to be a positive one following Thursday’s smart gains. Though the Nifty rollover in the F&O segment was on the lower side, one should not get unduly worried as trading was pretty muted for most part of December.
For the day, one should not have too high expectations as trading volume will be moderate. The key indices could end modestly positive but will be mostly rangebound.
The Nifty has sustained above 50 DMA and closed above 6100. The market is likely to remain positive as long as Nifty sustains above 6000. Immediate resistance is seen around 6140.
