As the rally continued long ,the more overbought the market is,and the more reliable the cautionary signals of this bearish candles on top and Break of the trend lines are extra confirmation of the resistance area.
Good analysis. Can you please share similarly in Bank Nifty. Hanging man will be used for both long and short with confirmation? Even near 7893.80 we can see handing man. Will it be in red and also in green?
padiyara
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@venkaticr, Not only hanging man, any BEARISH/ BULLISH candle or patterns for that matter is worth observing & following. GREEN or RED, the color doesn’t matter, the psychology in important........ i will try to make a post
SpSenthil
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Great sir.
dasAbhishek
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@padiyaraa highly informative and insightful. appreciate ur long term vision