NIFTY -- 3 BLACK CROWS vs MORNING STAR Chart patterns looks interesting from both bull and bearish point of view
REASONS
BEARISH VIEW
1. 3 Black crows (perfect closing) with rise in volumes ( www.tradingview.com)
2. February monthly candle looks like BREAKDOWN candle with low tested the next month
3. Weekly H&S pattern in progress
4. Bullish flag Breakout candle (october 2022 candle) low got tested....sign of bears strength
BULLISH VIEW
1. Overall it is in uptrend(making higher highs and higher lows)
2. Morning star pattern (www.tradingview.com)
3. DAILY time frame Inverted H&S pattern given Breakout
4. April 2023 candle looks like a breakout candle (volume only concern)
Let's wait and watch whether it is bulls or bears turn !!!!
NOTE- Just Sharing my view....not a tip nor advice!!!!
- mmjimm
