New Delhi, Feb. 7 -- Global headwinds continue to pose key risks for the Indian stock market and can keep the benchmark Nifty 50 near 29,000 by the end of the year, according to Rohit Srivastava, the founder and market strategist at Indiacharts.com.

"The Nifty 50 could be headed toward 29,000 due to global headwinds. So far, the index is holding on, but many stocks have started to slip below the surface. Similarly, global markets have been overheated, but US indices also broke down from an ending diagonal pattern," Srivastava told Mint.

After suffering losses for the last two consecutive months, the index is up by over a per cent for February so far. The index hit a record high of 26,373.20 on January 5. On February 6, it closed at 25,6...