MARKET MAY HEAD FOR 3250 NIFTY/10800 SENSEX
· Govt. and RBI Packages are enough to see market soaring to next major resistance level i.e. 10800.
· Monday should witness gap up opening and huge short covering as well as fresh long position rally
· US too would announce economic stimulus package under new president Obama, thus further strengthening US and world market.
· FIIS have been buyer in Dec. 08. In all likelihood they will maintain positive bias.
· The market will end rally, only if FIIS sell like the year before.
· Market rally will end if heavyweight index stocks like Infosys, Reliance, Tata Motor, Bharti Airtel, and Tata steel produce worse than expected results.
· Real economy will show huge downturn in Q3 and Q4. But anticipated recovery in year ahead, market should trade with positive bias even though the companies declare poor results.
Mint House 