Weekly Outlook

Market seems to be losing steam on the upside.
A correction may possibly take Nifty to 5825 -- 5850 levels.

Weekly Review

Market is trading in a narrow range.
Even a sparkling quarterly result from Infosys failed to boost market sentiment.
Market seems to be lacking direction. 

Paradox of Forecast and a Sovereign Downgrade

It is difficult to understand how people project levels like 7000 for Nifty when rating agencies are warning of a India sovereign downgrade to ' junk ' status for huge number of reasons with very little prospects of improvement.
Even if we were to believe that equity markets may rally globally in 2013, Nifty may only inch upwards and retest the 2008 highs or remain at elevated levels for a prolonged period of time and only consolidate at higher levels.

How will the earning season pan out ? How will the uncertainty related to debt ceiling in US be addressed ?
Until the picture does not get clear, mkt may remain sideways.

HAPPY NEW YEAR to all the viewers.
Hope stability and prosperity returns to the markets in 2013 enabling investors to make some descent money.