Trading outlook for 10 March 2010
The market might move sideways Wednesday, although lastminute buying could support barometers on the plus side. Others might be prompted to take-profit on rallies, as expectations of higher electricity prices in March might create a dent on corporate earnings growth for 1Q 2010. Overall, downsides might be limited, given the liquidity in the system & global fund managers’ improving sentiment for the region. Immediate support is 3,100, secondary at 3,090, resistance at 3,130-3,140.