a HAMMER ON DAILY CLOSING IN NIFTY..Trend Reversal Or NOT..?
Now we have a Bottom (17255) till date ..and a Significant Hammer On a daily closing...price Closed just below 50 EMA on weekly basis..it was close below previous open too..when a Hammer closing at bottom ...it looks significant...may the good agent for bullish reversal pattern..and today we also had a Good higher low 17324...and sideways after making a Sandwitch in Hourly...Now, in the next trading session intresting to see If Nifty manage to hold this Bottom or not...if price closes below 17255...or a gap down below this on Monday...Then NO REASON TO BE LONG IN NIFTY as Everyone knws...But i was just Delighted having Hammer at Bottom...lets see further action in next week specially monday....
As Today's Gap Down was just like a bad Nightmare for me ...as it took almost 70 % of my gain achieved in Last Few days...But its Fine I was wrong in my studies ...i surrenderd to God Market...MARKET is a only Good Teacher...teached me some good lessons...In future need to capatalised it...Thats all...need work to continue and try to learn Market Everyday...
HAPPY TRADING GUYS....
As Today's Gap Down was just like a bad Nightmare for me ...as it took almost 70 % of my gain achieved in Last Few days...But its Fine I was wrong in my studies ...i surrenderd to God Market...MARKET is a only Good Teacher...teached me some good lessons...In future need to capatalised it...Thats all...need work to continue and try to learn Market Everyday...
HAPPY TRADING GUYS....
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