Weekly Tech Analysis_ 24.01.2022

By a staff reporter: 

Coming week is a Truncated Significant Week.

Last week W to W basis Nifty Spot down 3.50% or -638 pts, closed at 17617. From Weekly top 18350 corrected 865 points against previous rally 1940 points from 16410 to 18350.

Weekly Basis Nifty formed 1st big red candle after 3 consecutive big Green but as per daily chart last Friday formed a perfect Doji candle after 3 Big Black Crows candle formation. D to D basis down -140 points.

Now Monday’s low after opening will be very crucial & that to be trend decider for coming week also.
Expectation is negative bias & even chances of breaking last week low 17485 but Technically that should not below 17380. If holds then a pull back attempt can't be ruled out.

Source : Eureka

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