Nifty Analysis - Stance: Neutral
Recap from yesterday: “The last candle is looking quite deep and has almost negated the progress of 3 days. If it was not related to any news/event, the outcomes match quite strongly for an interim top-like formation.”
4mts chart link - click here
The last 30mts action yesterday was not a blip, we got some continuity today....
Will Shree Cements go up ???
Reasons/Traits :
• Measured Move up pattern formation is seen
• Last 3 days candle sticks pattern shows as 3 black crows
• Todays close is exactly at 0.236 retracement level of last swing high and also taking a support of a trend line break out (4)
• Price took support of 12 EMA with decreasing volume
What can happen next :
Scenario...
