Stock Market For Tomorrow 20-Jan 2011

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Today markets opened on positive note but were unable to sustain early hour gains and witnessed selling in the later half of the session to finally close in red. 

By observing the daily charts and report, we are expecting that prices may be hovering above the 200-day SMA (18,674 / 5,600 levels) but the bias is on the negative side. In coming intraday trading session, if indices trade below 18,890 / 5,660 levels, then they are likely to test 18,780 - 18,674 / 5,634 - 5,610 levels. On the upside indices may face resistance at 19,170 - 19,250 / 5,735 - 5,764 levels.

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