Friday, October 11, 2013

Nifty paused @ the next supply zone with a "Hanging man" & an intraday correction...


9 comments:

Rakesh said...
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Rakesh said...
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Bharat Kumar said...

Ilango Sir - Wouldn't it be imperative to state that the present candlestick formation is a hanging man and not a hammer? The current trend is an 'uptrend' and the presence of a long legged candle stick is at such a juncture would be a "hanging man" formation... Your views pls sir

venkatapathy l said...
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venkatapathy l said...

@ Bharat Kumar

He has already mentioned in his opening statement above that the session ended with a 'Hanging Man' candle.

This formation does not mean that the bulls have definitively lost control, but it may be an early sign that the momentum is decreasing and the direction of the asset may be getting ready to change.

http://www.investopedia.com/terms/h/hangingman.asp

LV

Rakesh said...

@venkatapathy l

Earlier Sir has mentioned day candle as "Hammer", he modified it later on...
that's why Bharat Kumar has raised the doubt.

~Rakesh

durga said...

Good evening master. N. all blog mates. Master said clearly. Nifty paused.. So for the time being it is a pause star..hanging man. Need follow up selling to qualify. If up trend continues,,it will become pause star..master grafs poryrayed such stars ..good day

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