Pattern sell entry @ 279.10, Confirmation if stays Below 278.70 for 30 mins.
Definition:
This is a five candlestick pattern that starts with three strong white candlesticks. The uptrend continues with the fourth higher close. The next day gaps lower and closes much lower than the previous day or two. This may imply a bearish reversal.
Recognition Criteria:...
In UP Move @ 282.10 looks Crucial. Closing Above that Trend Reversal Confirmation.
Candlestick Pattern: BULLISH LADDER BOTTOM.
Pattern Details:
Definition:
This is a five candlestick pattern that starts with three strong black candlesticks. The downtrend continues with the fourth lower close. The next day gaps higher and closes much higher than the previous day...
As on 18/09/18, Bank Nifty is in downtrend as per candlestick pattern and also moving averages. Crucial Resistance level is 26644.36 and crucial support is 26363.54. If it breaks 26390 then sell bank nifty for target 26302/26131/26041 with stoploss 26500. Also, Bank Nifty is forming bearish engulfing in monthly time frame.
Last Candle: Hammer (Bullish Reversal)
Here formed after a long body Bearish Candle(11/08/2018)
Matching LOW @ 737.30 on 13/07/2018 & @ 731 on 12/08/2018 (Generally BULLISH)
........ Rest details plotted & mentioned on Chart.
Education purpose only.
Applied Fibonacci retracement. ITC touched its 1.618 retracement at 321 levels and corrected.
100% Fibonacci level is around 296 so expecting correction till 296 and may be uptrend to resume depends on the situation.
296 will be a crucial level to watch out and a nice buying opportunity with good risk reward ratio.
