Are our markets poised for a Santa Claus Rally ?? A Santa Claus Rally is result of people buying stocks in anticipation of the rise in stock prices during the month of January, otherwise known as the January effect.It occurs in the week between Christmas and New Year's Day.
Yesterday action seems to be indicative of this rally . Lets see how Nifty reacts at 5200 zone. On daily charts it making higher bottoms but not higher tops.
Last night on global markets Metal had a good rally . Resource Stocks buzzed all over the globe.
Gujrat Nre Coke has support at 65-69 and resistances are at 86-90-96
Thursday, December 24, 2009
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