Dated :- 26. 01. 2015

                                                                        NIFTY SPOT : 8835.6

Hi,

Readers,

Again many heartiest congratulations of “Republic Day”.

I was out of town on a family visit. Just came back.

As far as view on Nifty is concerned. Nifty has made fast up move as expected. View is more or less same as was in my previous blog.

Small time frame charts are becoming overbought.

However daily time frame charts have no sigh on fatigue till now other than spinning top candlestick formation with gap on daily chart. One can not only rely on that spinning top but spinning top with gap and with smaller time frame chart showing fatigue should not either be ignored.

One should not try to identify top for market which is trading on all time highs. But prudence also says that before making fresh trade one should also measure risk reward and then take appropriate decision. I believe one can wait for couple of more trading sessions before taking decision for good trade to come on either side.

However looking at smaller time frame charts it seems that 8890 to 8927 can be the level from where correction may become imminent.

Trade Accordingly.