January 30, 2020

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.8% in negative at 12035
- AD was 1:2

- note trend is down on hourly charts for quite some time
- below 12200 I should have marked the trend as down
- but did not do as the region of 11800 to 12200 is a huge congestion zone

- today markets took support at 12000

- Saturday is a big event day from market perspective
- I am not expecting anything great from the budget
- however the volatility can get bad so I will not be trading


3 min charts:
- did not trade today
- chart posted for reference only



15 min charts:



30 min charts:



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