1-20 Market Analysis (NSE)

Big stocks had a little low volume day compare to last couple of days. Most big caps ended up in the green at the end of the days. I didn't see any big reversals in them. So far it looks like we are in the big bull move since Jan 2nd. Nifty looks strong so far. It also closed very strong. We haven't had any major down day since Jan 2nd as well. Most major caps had a big volume in last 2-3 weeks which is helping this big move.

I still believe we are in the bull market but we are approaching resistance zone of 5056-5100 from this level we went down rapidly on Dec 7. I will be watching this level very carefully and hope market doesn't loose its momentum. Certainly chances are very less that that level will be broken in a day. We will need big demand to break that level. Will find that out in next couple of days if not tomorrow.

One should not be taking new heavy risk from here. One should review their stops carefully as this can be a volatile area.