Markets opened 20/01/2010

Markets opened on a flat note, and witnessed selling in the latter half of the session, which dragged the indices to close in the negative territory. On the daily charts, the immediate swing low, which is at 17276 / 5170 level, is major support for the markets. If indices break these levels then we could witness further weakness and indices are likely to test 17184 / 5130 levels. However, on the upside 17650 – 17700 / 5280 – 5293 levels may act as resistance for the day.