January 19, 2015

Market outlook

Trend is up with reversal level at 8380 spot.

Note expanding triangle formation on EOD charts... this is the bearish option and will come into play if markets break crucial supports. Here target for correction would be 8000 or thereabouts.

Incidentally we also had a gap up opening followed by a doji.. this has bearish implications if markets open gap down tomorrow.


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