Indian stock market outlook from 30th November to 4th December 2009

Sunday, November 29, 2009

 As we mentioned in previous analysis nifty traded very very volatile through out the week.Intraday traders lost some money.There were several reasons which made markets volatile.Some of them were F&O Closing on previous thurs day,Dubai worry and dollar gains.In spite of negative news,the hope that markets may gain for long term,made people buyers on decline.That is why nifty was able to close near 4950.
  The trend is still not weak.But nifty may face strong resistance now at 5100/5150 levels.Nifty will get strong support at 4740.A close below that level may lead nifty to 4500 level.Sensex resistance is 17000/17100 Support levels are 15980 and 15100
  Important global events to watch for next week are Impact of Dubai economic crisis on Dubai real estate sector(as Dubai and many other asian countries depends real estate very much),U.S unemployment report,Ben Bernanke Speech and Barack Obama Speech.