Markets for the second11/01/2010

Markets for the second consecutive trading session was unable to sustain higher levels as profit booking dragged the indicies to close in red. The coming trading session is likely to witness some consolidation / correction. On the downside if indices trade convincingly below 17509 / 5235 levels then it is likely to test 17400 – 17330 / 5210 – 5185 levels. On the upside 17620 - 17720 /5270 - 5294 levels may act as the resistance for the day