Black means red candle & white means green candle
The Dark Cloud Cover, in charting, is a pattern where a black follows a long white . It can be an indication of a future .
Essentially, the large black candle is forming a "dark cloud" over the preceding .
The dark cloud must have a closing price that is:
1) within the price range of the previous day, but
2) below the mid-point or 50% between open and closing prices of the previous day make the case stronger.
First at 730 & later at 710 - Dark Cloud Cover pattern haunted traders. In near term only above 730 -it will be better sign that traders look to buy the stock else it can trouble.
Levels of 730 & 710 both are haunting Auropharma & Sunpharma .
Below 710 -we can see auropharma running close to 620-630 zone & below 620 -next support in the zone 580-590 as target zone.
You would love to read my previous update
Auropharma 2016 Diary - includes all the previous updates - you should click the charts nested in the analysis to read them.
Puked to a new low@655 & closed at 658.
Going below recent low of 652-653 -likely we get small move downside in 645-647 zone.
We shall be searching for upside move as well so be careful any push upside above 660 & sustaining above that level.
Just Kissed 660 mark - playing in the area 653-657 & later moving above 660 convincingly can make Auro also stock for the day for short term push upside atleast till 680-685.
Moving above 710 can push Auro sharp upside or sellers can come back till 710 is intact on upside.
Came in the desired zone of 653-655 -Let us see if we get push above 660 in next session.
I hope you will give insights if I'm wrong in my understanding