Mohit Jhanji Follow Trading in Stock Market Since 2006. Iam working as a Technical Analyst in Wealth Creator. Wealthcreator.co is a research firm. We have Been Serving The Traders Of Indian Stock Market, Commodity Market From Past Seven Years With Tailored Products To Meet The Needs Of The Individual Retail Trader, Brokers,Corporate & High Net Worth Individuals & NRI’s.

Nifty Weekly Observation as on 19th Jan 2015

January 18, 2015 26 sec read

niftyweeklyview
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Positive surprise from RBI was welcomed by market players and nifty future opened huge gap up in past week on Thursday trading session.From chart above one can clearly see the nifty future took support on the trendline after the breakout and is now trading well above the same.

Momentum indicator is also signs of positive uptrend in short and medium term. The volume is also supporting the chart since the triangle breakout was on higher volume.

Now week ahead Nifty future will face hurdle at 8565 once sustain this level it will run for 8650 and life time highs. On downside the supports are 8420 8380 below 8380 only if market close then any chance of downside to begin.(chances are very less)