Trend Reversal :: Bank Nifty & Nifty

Aug 12, 2017

Bank nifty Spot rate: 23985.75

Chart give me a hint for near term bottom out & trend reversal, where two candle are represents ( Hammer and Inverted hammer ).
Below two possibilities are:
1. Consolidation + continue down: Waiting for next day candle, during consolidation don't buy.
2. Trend reversal + Up trend: If it right recognized then it will close on or above 24120-422, breakout neck line of Inverted Head & Solider pattern level 24950-980. If continue up trend need to wait for next candle close above this level (24980)

Levels: 23617-23939-24265-24546-24872-24970

Mostly trend reversal, will buy for near term (time:10-15 days then decide continue trend or take profit)

Note: Buy sell it's your choice. Keep smiling comments...:)
Comment: Alert: required to break 24265 then expect up move 24500+, and now still sustain 24150-210
Comment: take profit@24370+++
Trade closed manually
Comment: alert: mkt will correct deep if nifty brkdwn 9885 will touch 9777-9600-9500
Good show. Happens rarely.
@venkaticr, Thanks
As per candle it will reverse .
Keep smiling comments...:) Ha ha
@AMBRISH, nice one..:) ha ha...:)
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