Change in trend - 3 black crows
Analyze the time frame:
Monthly : Candle engulfing
Weekly: Black Crows
Daily: Lower lows and lower highs are formation
1. Closed below 19375, implying negative
sentiment.
2. Exit the regression channel
3. A decrease in relative strength.
The triggering factor is,
1. 33/50 stock decrease.
2. The banking industry is the most
affected.
Moving forward,
1. The anchor candle would be critical; we could see some sideways movement, and it is expected to act as support.
2. If the nifty closes below 18600 in the following 3-4 weeks, it will be considered bearish.
To summarize, a sideways moment is likely to occur ; however, there is no need to worry; a closure below 18600 will be the price to ACT
Monthly : Candle engulfing
Weekly: Black Crows
Daily: Lower lows and lower highs are formation
1. Closed below 19375, implying negative
sentiment.
2. Exit the regression channel
3. A decrease in relative strength.
The triggering factor is,
1. 33/50 stock decrease.
2. The banking industry is the most
affected.
Moving forward,
1. The anchor candle would be critical; we could see some sideways movement, and it is expected to act as support.
2. If the nifty closes below 18600 in the following 3-4 weeks, it will be considered bearish.
To summarize, a sideways moment is likely to occur ; however, there is no need to worry; a closure below 18600 will be the price to ACT
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.