A morning walk down Dalal Street | Stay long as long as Nifty holds 10,800

Indian markets bounced back from lows and managed to end the day in the green. On weekly basis, both Sensex and Nifty rose more than 1 percent each.

The good part is that Nifty managed to hold on to its crucial resistance level of 10,900 for the second consecutive day in a row.

Investors in the Indian market could make a note of movements in Brent Crude prices. The commodity has crossed $61 per barrel but is still off its high points from the past year. 

The rupee on January 18 weakened by 16 paise to close at 71.19 against the US dollar amid a rise in demand for the greenback from exporters and unabated increase in global crude oil prices. This is the second successive week of loss for the Indian currency.