Sundara Raja Market Trends - 13 Jan 2019

Sundara Raja Market Trends - 13 Jan 2019
Intra-day resistance at 12,340   -- 13 Jan 2019
 
Resistance1: 12,340     --    Resistance 2  : 12,380
Support:        12,300      --   Support 2 :       12,270
 
Nifty today saw a steady trend of 72 points.
Since an uptrend breakout is seen, a pullback is also possible.
Trend is positively placed.
 
 
Nifty in-case of a positive trend,  resistance intraday above is at 12,340.
Market has to trade above resistance for a further uptrend.
Then the next major resistance above is at 12,380 and 12,410.
 
Nifty has to close strong above 12,300, on a closing basis.
 
In-case of a weakness,  then intraday support below is at 12,300.
 
 
In-case of any trading below 12,300, then it indicates a further weakness. 
Then the next major support below is at  12,270 and next at 12,200.
 
On closing basis, if market closes below 12,300, then it indicates caution for a correction.
 
V. Sundar Raja, Research Analyst