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    Resistance seen between 5750-5780: JM Financial

    The two pillars of index strength in the last 15 months, IT & auto, seem to have broken down. Overall, the trend is likely to remain down even as volatility continues on a daily basis, says Gautam Shah of JM Financial.

    January 18, 2011 / 08:51 IST

    Here is experts equity calls for the day on how the markets are expected to trade:

    Gautam Shah, JM Financial: The market set-up has opened up extended downside targets of 18000/5430-5450 that could be seen within the next 1-3 weeks with "wild" pullbacks in between. Resistance is now seen between 5750-5780/19100-19200 area. The two pillars of index strength in the last 15 months, IT & auto, seem to have broken down. Overall, the trend is likely to remain down even as volatility continues on a daily basis.

    first published: Jan 18, 2011 08:49 am

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