Traders can trade long with stop loss of 19900 on the expectation that 20659-2108-21206 levels are to be tested in due course of time and the same can be used for profit booking by the near-term traders whenever these levels are attained.
Overall January-2011 doesn't seem to be very good. Just so-so, ganesha doesn't see the posibility of any major gain.
The coming session is likely to witness a range of 6160 on advances above which the 6175 maybe seen. Support is likely at the 6100 below which the 6075 maybe tested. The bullish pivot for the session is likely at the 6135 levels and the bearish pivot at the 6115 levels.
Pakistan's Muttahida Qaumi Movement (MQM), the second largest party in the ruling coalition, will leave the governing alliance and sit in opposition at the federal level, the party said on Sunday.
Pope Benedict on Sunday condemned a bomb blast outside a church in Egypt which killed at least 21 people, the latest in a series of attacks on Christians in the Middle East and Africa.
Chinese Premier Wen Jiabao vowed again to step up efforts to keep consumer inflation in check in 2011, state media reported on Sunday.
People queued overnight outside of banks in the Bangladeshi capital of Dhaka in a desperate bid to buy highly-prized cricket World Cup tickets, which went on sale on Sunday.
From a trading point of view I would buy dips until 6050 for a target of around 5254, says Technical Analyst, Prakash Gaba.
The commercially underwhelming comedy "Little Fockers" narrowly retained its lead at the North American box office during the holiday weekend, as Hollywood's prolonged slump spilled over into the new year.
South Africa were 232 for four wickets at the close of the first day of the third test against India at Newlands on Sunday.
Chelsea scored twice in the last two minutes in a stunning comeback against Aston Villa on Sunday only to concede an injury-time equaliser in a 3-3 draw that severely dents their hopes of retaining the Premier League title.
US President Barack Obama is willing to make difficult choices on spending cuts when he unveils his budget next month, a senior aide said on Sunday.
Swiss government plans for tougher capital standards for big Swiss banks would help reduce the chance of another crisis, the Swiss central banks' vice chairman wrote on Sunday in a newspaper.
Volkswagen Chief Executive Martin Winterkorn will continue at the helm of the German carmaker for an additional five years, after the company extended his contract.
Germany's flagship airline Lufthansa aims to boost its workforce by 4,000 this year as it prepares for a surge in passengers, the group's new chief executive told German newspaper Bild.
A senior Iranian Oil Ministry official said on Sunday Iran's oil exports to long-time trading partner India had continued despite a dispute over the method of payment, student news agency ISNA reported.
Opium prices have almost doubled after a blight halved production in 2010, Afghan officials said on Sunday, raising fears more farmers would turn to the illicit crop in the absence of profitable alternatives.
Russian oil output rose by 2.2% in 2010 to a record 10.1 million barrels per day (505.193 million tonnes) as higher prices prompted the world's top oil exporter to ramp up production at its greenfield sites.
Technically the trend is still intact up and strong supports exists around 6050 and the upside target beyond 6147 is 6254.
The bond market is likely to remain subdued with a negative bias. There is a possibility of RBI action on interest rates later this month given the high food inflation and oil prices. The 10-year yield is seen between 7.91-7.96%, says Suresh Prabhu, Money Market Analyst.
F&O cues: Total Nifty Futures was up Rs 1,838 crore and Options was up Rs 7,789 crore.
In the US markets, stocks notched double digit gains for the year, just a shade below the record two-year highs. However, on Friday, it was a quiet session with a flurry of selling in the final minutes.
The rupee is likely to be rangebound this week. Domestic equity market cues and import demand is likely to impact the currency. The range for the day is seen between 44.70-45/$, says Subramaniam Sharma, Greenback Forex.
FIIs were net sellers of Rs 74 crore in Index Futures and net sellers of Rs 27 crore in Stock Futures while FIIs were net buyers of Rs 2498 crore in Index Options on December 31, as per data available on NSE.
Equity diversified NAVs ended strong with advance:decline ratio of 252:4 as markets closed the last session of the year 2010 on a positive note, led by support from financial, Anil Dhirubhai Ambani Group, realty, telecom, auto, select metal and power companies' shares.