Nifty opens with another perfect gap up and consolidates around the levels it wanted to after trading in a very narrow range of 35 points. VWAP @ close is 5008. Nifty closes @ 5018.
1) Bullish views can only be considered at this point in time and the chart tells the story and I am not writing anything further other than the fact that reversal level will be 4975 on closing basis tomorrow on the weekend.
2) The chart uploaded on January 14th has once again been attached with the Fibonacci grid with the bullish scenario.
3) The expectations from RIL results and news of buy back of shares and the RBI policy has been too high and the market has gone ahead to price it in. Good luck. Happy trading :)
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