Join Courses
Attend Webinars
Get Free Counselling
  • Select Language
    • Hindi
    • Bengali
+91 9903 222 555
Elearnmarkets - Financial Market Learning
Join Courses Of Elearnmarkets
  • Basic Finance
  • Technical Analysis
  • Fundamental Analysis
  • Derivatives
  • Financial Planning
  • Miscellaneous
No Result
View All Result
  • Basic Finance
  • Technical Analysis
  • Fundamental Analysis
  • Derivatives
  • Financial Planning
  • Miscellaneous
No Result
View All Result
Elearnmarkets - Financial Market Learning
Home Technical Analysis Market Analysis

Market Wrap 11-Jan-2016

Elearnmarkets by Elearnmarkets
January 11, 2016 - Updated on November 18, 2020
Reading Time: 1min read
0
37
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Hello everyone!

Today morning, nifty had given a weak opening , it was 80 points lower from yesterday’s close, however after the first half hour, it bounced back, marking a low of 7494, a tad below the psychologically important level of 7500.

 

What is interesting here is that in-spite of the strong bounce back witnessed today, the index failed to sustain this strength above yesterday’s low of 7580 and gave a closing lower still at 7572, which is by the way only 29 points lower than yesterday’s close. On the 30 min period chart displaced, we can see a channel breach, in order for this breach to sustain, nifty should be able to move above yesterday’s high i.e. 7635 and close above the same.

On Friday, i mentioned the the occurrence of a bullish Harami Cross on the chart and had said that we needed to await its confirmation, however, the confirmation has failed and the market is still in a very weak position if you look at the bigger picture.

The china index again lost 5% today continuing the saga, removing any expectations of a recovery anytime soon.
Chart of the day

ITC chart has shown a classic Pull Back pattern , which is almost customary post the breach of an important support trendline. It shows the bulls trying to reinforce control, but more often than not, due to the property of Change of Polarity, the support trendline now becomes the resistance trendline and the prices continue to fall.

Tags: englishITCniftyPULLBACKTRENDLINE
ShareTweetShare
Subscribe To Updates On Telegram Subscribe To Updates On Telegram Subscribe To Updates On Telegram
Previous Post

Why is Retirement Planning Important?

Next Post

ONGC Demonstrates the Perfect Channel!

Elearnmarkets

Elearnmarkets

Elearnmarkets (ELM) is a complete financial market portal where the market experts have taken the onus to spread financial education. ELM constantly experiments with new education methodologies and technologies to make financial education effective, affordable and accessible to all. You can connect with us on Twitter @elearnmarkets.

Related Posts

Hourly Chart
Market Analysis

Nifty Washes Off Three Day’s Gain, Closes Below 11500

March 22, 2019 - Updated on November 18, 2020
434
Market Wrap

Nifty breaks the consolidation phase, up approx. 360 points

March 16, 2019 - Updated on November 18, 2020
98
Hourly Chart
Market Analysis

Nifty Made A Close Above 11000. Is The Consolidation Over?

March 9, 2019 - Updated on November 18, 2020
68
Hourly Chart
Market Analysis

Nifty Ends In Green Amid Geopolitical Tension

March 2, 2019 - Updated on November 18, 2020
55
Next Post
ONGC

ONGC Demonstrates the Perfect Channel!

MARKET WRAP : 12th Jan, 2016

MARKET WRAP , 13th Jan , 2016

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Download App

Register on Elearnmarkets

Continue your financial learning by creating your own account on Elearnmarkets.com

Register Free Account

GET ARTICLES ON EMAIL

Enter your email address:

Categories

  • Banking
  • Basic Finance
  • Bonds & Fixed Income
  • Budgeting & Savings
  • Capital Markets
  • Charts
  • Charts, Patterns & Indicators
  • Commodity, Currency & FOREX Market
  • Derivatives
  • ETFs & Mutual Funds
  • Financial Planning
  • Financial Statement Analysis
  • Fundamental Analysis
  • Macroeconomics
  • Market Analysis
  • Market Updates
  • Market Wrap
  • Marketshala
  • Miscellaneous
  • Open Interest
  • Personal Wealth
  • Retirement Planning
  • Sector Analysis
  • Tax Planning
  • Technical Analysis
  • Trading Terms, Rules & Strategies
  • Visit Elearnmarkets
  • Courses
  • Webinars
  • Financial Guides
  • Get Free Counselling

© 2020 Elearnmarkets All Rights Reserved

No Result
View All Result
  • Article Categories
  • Basic Finance
  • Derivatives
  • Financial Planning
  • Fundamental Analysis
  • Market Analysis
  • Miscellaneous
  • Technical Analysis
  • Select Language
    • Hindi
    • Bengali
  • Learn finance
  • Browse Courses
  • Webinars
  • Free Guides
  • Get Free Counselling

© 2020 Elearnmarkets All Rights Reserved

Republic Day Offer

Visit Elearnmarkets.com to view the offer