Recent Repetitive Characteristics of Nifty
1. Strong upside rallies are typically followed by time-wise corrections, often accompanied by bull and bear traps.
2. The bull-to-bear trap range has been observed around 7%.
3.Bear traps tend to terminate near role reversal levels
It seems that Nifty has been behaving similarly to how it did in a previous episode. Index has followed 10% decline after 25% up move. However, the pattern's implication is not as important as long as the index stays above the support band of 20700 to 20600 level.
The hammer candle pattern is bullish, but the question is....can we give equal treatment to all hammer patterns?
With reference to the given chart, which will be your buy candidate?
Stock A or
Stock B
Download for more technical analysis quizzes: https://t.co/ju9m6omJoE
The hammer candle pattern is bullish, but the question is....can we give equal treatment to all hammer patterns?
With reference to the given chart, which will be your buy candidate?
Stock A or
Stock B
Download for more technical analysis quizzes: https://t.co/ju9m6omJoE
@shivaji_1983 true...It is one of my tenet of trading
Pahela Daav Bhagwan ka Dusara Daav Apna...Not to take part in the first move or if taking, doing with a defensive approach and after the retest...doing with aggression