Stock market forecast week december 5 - 9 2011

Stock market forecast week december 5 - 9 2011 ; Asian stocks are poised for their first weekly rise in a month buoyed by coordinated central bank actions, while the euro consolidated its hefty gains ahead of a key European summit next week to tackle the euro-zone crisis.

Coordinated central bank action to cut the cost of funds in money markets, plus a Chinese move to free up more bank capital, sparked a big rally in risky assets. This followed profit-taking after the release of mixed economic data from the United States and China.

Even as market action suggested that investors' underlying appetite for risk remains muted, investors grew cautiously optimistic about next week with monthly U.S. payrolls data due later in the day and an important European summit on Dec. 9. 2011

European Central Bank President Mario Draghi is urging progress towards a new euro-zone fiscal program and is willing to act more aggressively, while the leaders of France and Germany are working hard at a compromise.

"We're in consolidation mode but its basically down to the non-farm payrolls today and then back to Europe next week," said Christian Keilland, head of trading at agency brokerage BTIG in Hong Kong.

"And the propensity of Europe to drop the ball on these is huge," he said. "Funds that are flat to down this year are probably going to scramble and try push things higher but its going to be difficult."

Stock indices in Asia trended lower after Thursday's bounce. Hong Kong, Korea trended lower while MSCI's broadest index of Asia Pacific shares outside Japan edged lower after jumping more than 4 percent on Thursday. U.S. stock futures was flat.

Market Outlook Weekly december 5 2011
Markets have turned extremely volatile and in sync with the global peers. Selective buying can be done in fundamentally sound companies. Global developments will continue to influence the market trend. Next week, global markets are likely to be volatile since crucial data relating to European region like sentix investor confidence and GDP announcement will be made. The outlook for the coming weeks remains cautious since the outcome of EU meeting on Dec 9 will be crucial for the market sentiments. Support levels for Nifty for the coming week are 5,000 and then 4,915. Upside resistance exists at 5,105 and then 5,155.
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