1-19 Market Analysis (NSE)

Nifty didn't have the strong closing today but again it is behaving similar to previous breakouts; after the breakout consolidation for couple of days. Most big cap stocks also had the negative closing on little high volume (little concering thing) and some which went up didn't have very high volume. 

One more obervation, last time market tried to rally on Nov 24; it had nasty reversal on Dec 7 which was also the Fibonancci 50% retracement level of last 4 months. 4980 is also the 50% fibonancci retracement of Dec 7 th high. Again it is just a observation.....

Many big cap had a big run so far and getting tired little bit, as it always happens at the low point of the market. 

I am still bullish until we see big reversal in price or we see closing 4830. As I mentioned above, I am little concern with the big caps negative high volume.