Charts: FTSE Could Sink to 2,700 in 2010

Tuesday, 24 Feb 2009 | 8:29 AM ET

The FTSE-100 could lose nearly 30 percent of its present value between now and the end of 2010, as support for the UK index looks scarce, Sandy Jadeja, chief market strategist from ODL Securities, told CNBC.

Charts: FTSE to 2,700 in 2010
The FTSE-100 could head down toward 2,700 points in 2010 as the outlook remains very weak, Sandy Jadeja from ODL Securities told CNBC Monday.

“Longer term, we’ve got much more lower support levels,” Jadeja said. There is a big possibility that the FTSE could sink to 2,700 points next year, he added.

The FTSE has been consolidating at around 3,800 points in recent weeks, but looks likely to break below the October lows and bow to the overall market trend, according to Jadeja.

Jadeja points out that the London index has been outperforming its counterparts in the US.

- Watch the full interview with Sandy Jadeja above.

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