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Weekly analysis : DOUBLE LOVERS SUICIDE - 30/01/2015.



It had to happen and it did happen; yes the one way upward rally was too good to last as it came to a halt on Friday when the Nifty stopped shy of 9000 levels and reversed. It was pointed out in the previous week’s article that the indices are approaching a major target zone (Nifty 8893-9030) which will prove to be a strong resistance for the market and it did as shown by the formation of big Opening Black body Marubuzo on Friday. The question now is whether it is a Trend Reversal or another sharp Correction. The answer will be given by the market in the coming weeks but till then we will consider this as another Bull market correction. We need to keep in mind that this is a very strong Bull market and Bull market corrections are sharp, swift and severe and it will not be any different this time around.



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