Markets witnessed gap down opening 19/01/2010

Markets witnessed gap down opening, but improved as the day progressed which led the indices to close on a

positive note. On the daily chart ,the momentum indicators are still positively poised and this suggests

continuation of upmove.On the upside if indices convincingly trade above 17713 / 5293 levels then it is likely to

test 17822 -17932 / 5329 -5365 levels. On the downside 17490 - 17400 / 5230 – 5200 levels may act as support

for the day. On the sectorial front Midcap banking sector is looking positive on the charts and suggests further

upside.