NEW DELHI: When most analysts are busy making projections for calendar 2017, astrologers has predicted a grim picture for the domestic equity market in the New Year. After a sombre 2016, year 2017 could be marred with extreme volatility , they say.For the Indian market, things could be even more challenging following the demonetisation drive. The bearish trend is likely to extend well into 2017, offering limited upside to the benchmark equity indices. The Nifty50 index could hover in a 400-point range with the 7,730 level as a key support and 8,230 as a stiff resistance.“The global economy could remain turbulent with the stock indices swinging crazily both ways. For India, it will trying times,” Mumbai-based celebrity Astro-Numerologist Sanjay B Jumaani told ETMarkets.com.“The tough times for India post notebandi may continue till August 2018, as we are about to enter our 71st year of Independence," he said.Numerologists said the number 71=8 belongs to Saturn (Shani), who is known to be the lord of trials. To boot, even the demonetisation announcement came at 8 pm on an 8th day, November 8 to be precise, they point out.“But going through the trials, Saturn can compensate well too. Our 72nd year shall be far better, can even be a landmark year as 3,6,9 are a family and India adds to 3 and Bharat 6,” Jumaani said.Yellow, gold , brown and orange would be the best shades in the Year of Sun.“Sun is the creative force that gives light & life. Creative industries like consultancy or 'service' providing industries (banking) could shine, as well as manufacturing and advanced inventions, IT, software & technology," Jumaani said.Calendar 2016 is going to close on a tepid note for investors, as benchmark Sensex and Nifty have erased most of the gains in the last two months of the year.Divine intervention will be required if investors have to make money in 2017. Hence, it would make sense to remain stock specific and stay invested in the right sector."From the astrological aspect, the year 2017 is going to be mixed and does not look too positive for investment," astrologer Murtaza Ali told ETMarkets.com. He said a ‘wait and watch’ policy will be the best option for investors."The 7,730 level on the Nifty50 is a much-awaited one after the Fed decision and every rise will be a perfect opportunity to sell and look for the target of 7,730," he said. The upside is likely to be restricted till 8,180-8,230."A decline or negative trend (bearish) is intact now and the Nifty50 will soon move towards the 7,730 level, which will act as a technical base. One may look for a rise if it gets past 8,180 and then a sleek selloff may ensue,” Ali said.The range for the index for year 2017 will be 7,730-8,230.Till the unveiling of the Union Budget, auto and consumer durables such as FMCG are not favourable for investment and things will be negative even for real estate and infrastructure sectors, Ali said."On the other hand, the outlook for cement and steel sectors looks favourable and they will move in a range with a sideways trend, while the power sector is likely to see some accumulation. Midcap IT stocks will be good to make an investment for mid- to long term,” he said.