MDstockmagic

nifty will be weak below 16550

Short
NSE:NIFTY   Nifty 50 Index
nifty made the doji near the top... getting resistance near 16585-620

nifty will be weak below 16550 for tgt of 16480

it will be more weak if breaks down 16480
Comment: nifty touched the resistance 16620 ....

it will be weak only below 16550-540 ... wait patiently for decisive break of levels

Comments

You still beleiving in dojo, hammer, engulfing.. waste
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@Edwin999, its part of technical analysis and if we use this candlestick pattern in combination of strategy or pattern than only its useful...
for eg yesterday it made doji & resistance was 16620.... but one should initiate short only if low is broken down by subsequent candle and closed below it..

confimation is important for any candle or pattern or any strategy...
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@Edwin999, in above chart if u see 11th aug ..10.45am candle than its a doji and its high was 16216.60 and low 16162.55...

high broken and see where the nifty went 16600+++

so confirmation is important along with candle
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