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Nifty 50 Index
Short

Hanging man with bearish engulfing - Candlestick

By abhishek_sh4
Updated

17 April 2020: Hanging man candlestick formation.

20 April 2020: Bearish engulfing Candlestick formation.

21 April 2020: Gap down opening - signifies strong sellers

Probable support @ 8500 & 9100 has strong resistance (Refer option chain)

Fibonacci Retracement : A:B:C

Note: There will be some retracement but the overall trend looks negative for short term.
Trade active
As I said there can be some retracement but the overall trend looks negative.

Today Shooting star candlestick was formed. (24 April 2020)

Indication: Bearish
Bearish PatternscandelstickCandlestick AnalysisEngulfing CandleFibonaccigapdownHanging Mannifty50Support and Resistance
abhishek_sh4
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