We are entering the Distribution zone of 2020. Bullish till it holds abv the upward sloping TL. A strength candle below it could make life difficult for Longs.
Its not the distribution phase but its accumulation phase. Market is very bullish at this level, though it may correct and may come down on profit booking, but operators and smart money will use that opportunity for accumulation and not distribution. By Diwali, I am expecting new highs for Nifty. May be 13500-14K.
Avyukta
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@Gann-Elliott-Trader, the alternating B&W candles since 21/08 don't signal it as accumulation. Typical accumulation patterns can be seen across various stocks like SBIN, KOTAKBANK etc.