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Finwize Investment Services
Finwize Investment Services
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25 January 2010
MARKET WATCH:
If Asian markets open low on Monday and the Sensex ends below 17,200, that would be an early sign
of reversal of the uptrend. The rise has gone on for too long without a correction and it’s time for
bullishness to cool down a bit. Indian markets plunged this week following weak global cues. Fears
that China’s central bank may tighten its lending norms and US President Barack Obama’s proposal
to limit risk-taking at US banks weighed heavily on market sentiment in the later part of the week.
Expect the Indian market to open lower on Monday, 25 January 2010, on the back of weak European
and US markets on Friday. The Sensex has a support at 16,600. If this support is breached, we may
see another round of sell-off, all the way down to 15,500.
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