abhishek_sh4

Hanging man with bearish engulfing - Candlestick

Short
NSE:NIFTY   Nifty 50 Index

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