Markets were unable13/01/2010

Markets were unable to sustain early hour gains, which pulled the indices to close in the negative territory. The coming trading session is likely to trade with negative bias. On the downside if indices trade below 17392 / 5200 levels then it is likely to test 17312 – 17168 / 5170 – 5126 levels. On the upside, 17528 – 17600 / 5245 – 5272 levels may act as resistance for the day. The intermediate trend is still up. The multiple resistance breakout point of 17168 / 5170 is now likely to act as a support for the markets