January 17, 2014

Weekend update

NIFTY closes in the red but above 6200.... markets getting increasingly rangebound.

Weekly charts:

Signs of selling clearly visible at higher levels.... unfortunately all the selling came on the last day of the week!.

Now for negation of any bearishness, markets must cross 6350 spot at the earliest. Inability to do so followed by a break of 6100 will be bearish for the market.

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