NIFTY 1D - Abandoned Baby

NSE:NIFTY   Nifty 50 Index
A bearish abandoned baby is a specialized candlestick pattern consisting of three candles, one with rising prices, a second with holding prices, and a third with falling prices. Technical analysts expect that this pattern signals at least a short-term reversal in a currently upward trending price.

Significant reduction in relative strength index

Except Reliance Industries, PSU stocks, Oil/Gas stocks, broader sector Index stocks' strength weakening.

Overhang of correction in stocks of Bank Index / Financial Services Index, may make Nifty print lower reading in spite of support from Oil & gas / Energy / Auto.

Going long on PSU, Oil & Gas, Energy, Auto with hedging of Short Nifty / Short Bank Nifty . . . .

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