Market this Week:

Indian indices weathered the storms of CRR hike and global weakness closing at its highest level ever {shade below the 20K mark}. Asian markets have largely been outperforming in weaker US & European markets and are currently placed near to their all time highs. Sensex and Nifty have taken support at their respective gaps { Sensex at 19279 & Nifty futures at 5729 }. Technically this demonstrates a positive signal. Markets could be on fire in the coming week and one could expect some brilliant fireworks display in the Indian Stock markets. Markets could be on a frenzy and move to new highs. Resistances are placed at 20200-20250, above which markets could move upto 21K. Nifty {futures} resistances exists at 6000 mark, above which expect non-stop rally upto 6175-6200 levels. Short term support for the sensex stands at 19250-19300, below which markets could correct sharply.