Dear all
First of all my warmest wishes to you and your family for a Very Happy and Prosperous New Year"
Before we go into a brand new year, lets reminisce the year that went by and hopefully will remain forever etched in our minds..... not for the bad things that happened but for making us see all those things and also helped us survive this.
2008 has been a watershed in many ways .... surely has been in the case of our long term portfolio's. The year 2008 at the start everybody expected great things but nobody expected a fall so deep creating scars and wounds that will take many bull runs to heal.
So whats our hope for the year 2009, atleast our wish is a year not like the one which went by .... "let the year 2009 give us new hope and let us all enjoy and benefit and bring back the cheers that we had in the last couple of years". Let us take a minute and let us all wish and pray for a great year ahead.
Plus let 2008 be a lesson for each and everybody - Traders, Analysts, Market Watchers, Media, Goverment, Policy Makers etc etc...... a lesson so hard that we will never forget and let us remind ourself markets are the king we are just his followers.
Market View 1-1-2009
Intraday resistance at 2975 and support at 2940-2945. Expect nifty to a bullish opening and any levels of sustaining above 2975 expect a further upmove to 3005 and a break out closing will be above 3005 for a target of 3040 and 3075.
