Morning Star Timeframe: DailyReliability: HighA reversal pattern.During a downtrend, the market strengthens the bearish trend with a long black candlestick. The second candlestick trades within a small range and closes at or near its open. This scenario generally shows the potential for a rally, as many positions have been changed. Confirmation of the reversal is given by the white third candlestick. The stronger the white third body the more significant the pattern is.
Every great dream begins with a dreamer. Always remember, you have within you the strength, the patience, and the passion to reach for the stars and to change the world.... - Harriet Tubman
There will be a Fed taper in Jan, and then market could move to the 1st support of around 6070.
Food for Thought: A close below 6233 will move the slow MACD below the zero line.
@ RamanThanks for this. Actually MACD hasnot closed in negetive for quite a while
NS hits new day low
dear illango sir nifty is below 6130 low of 50% so B..?
CLICK HERE Tatamotors intraday chart a typical 5 wave chart today
and the down move is still continuing
dear sir today low is 80% hold so B wave or week trande up so start of C,....?update plz sir
is the nifty bouncing off 100 DMA? if yes, what levels to watch for further resistance?
@ karthik - next resistance would be again the cluster between 6156-6170 where many TA parameters lie. Day Lema, Day 5EMA, current week LEMA, Hour HEMA.Support not only at 100 DMA but also Month 5EMA - considering the close of the month this week end.
@ satheesh -> should there be a level of closing that confirms us
pre.mkt viwe...suport 6108 hold bullish move....sir..?
If you are meaning EOD value - it is important. IF closing above the 100 DMA EOD it has significance
soemthing striking.. 63CE unwound 10,3 lacs OI intra on this fall Looks like a bounce is coming tomo ?