Nifty from last 3 days is trading in narrow range of 80 points from 18880 to 18000. Always when range becomes narrow, the next day or so range increase. If 18800 is broken downside is at least 200 points ( 18800-200=18600), and up 18880 + 200= 19080.
As per candle stick pattern, it looks like hanging man, which is bearish reversal pattern.
As per candle stick pattern, it looks like hanging man, which is bearish reversal pattern.
Trade active:
Nifty Gave up 18800 and closed below it. It has closed on support line. Now nifty has to close below trend line tomorrow comfortably, then it should be taken as Trend reversal. This time then 18880/19050 level becomes a major resistance.
Trade active:
Divergence of ROC work out and was able to detect trend reversal early . Nifty had reached 20 DEAM where support should come . If Nifty holds 20 DEMA for 1 hr sqoff short
