indiamarketoutlook

Nifty: Gravestone doji observed after Bad Bank good NEWS

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NSE:NIFTY   Nifty 50 Index
Nifty

- Yesterday there was Press Conference where our Finance Minister came up with the idea of forming of a Bad Bank and buying Rs 2 lakh Cr NPA of PSU banks for Rs 30,000 Cr .

- this would clear up all the NPA of PSU Banks and going forward would help in showcasing better ROI .

This possible expectation of good news is possibly one of the reasons why we have seen our markets doing well in recent days.

- However today on hourly charts we observe gravestone doji pattern

- this is a bearish candlestick pattern


Is the good NEWS being factored in?
I have highlighted this view in the previous update in the comment section

Time for you to decide.

Do note: last time, in our Nifty update our SL got triggered at 17450
So due your own research and due diligence.

Disclaimer

- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be