The markets traded sideways as players took to a cautious approach with RBI policy. Everybody is expecting nothing major to happen in the policy which comes up today. It is advisable that we wait for the policy to come out to enter trades. Choppiness could be high and the markets at current levels could also face pressure. Jan Derivatives expiry scheduled on coming Thursday will bring in a lot of indecisive volatility.For the day watch resistance @ 16788 – 17003 for the Sensex and 5064 – 5099 for the Nifty. Below these levels the markets would stay weak........

Jeera Feb’12, futures prices moved up by 200 rupees to close at Rs 16240 levels. Entry was not initated but moved on the higher side. It has moved up to trade on the symmetrical triangle to signal upside movement. Market has moved up to confirm symmetrical triangle breakout to suggest prices to trade higher. Now it will take support at Rs 16090 levels and breach of this level could test next support of Rs 15931 levels. On the higher side resistance is at Rs 16410 levels and next resistance is at Rs 16595 levels. Pepper Feb’12, futures price remained unchanged, at the end of the session it ...........