Nifty yesterday given "Spinning top" in daily time frame.
and today "Open = Close" in nifty.
it creates a "Doji" .
Both Scenarios after a good uptrend indicates a reversal.
and also we should keep in mind the exhausting gaps remaining in down side.
i am bearish in nifty.
lets see in upcoming days.
Good Evening Friends,
Nifty looks to be showing making top at 10600 levels. If Monday shows a negative closing, it will confirm evening star which usually gets formed at top and looks for bearish reversal(on daily charts). Looking closely at 15 min chart, it RSI shows negative divergence on 3rd July closing.
For Trend to reverse nifty will need to go and test...
Strong bearish engulfing formation on Nifty.
Fibanocci suggests a bearish move
Daily candlestick suggest a bearish move (A clear bearish engulfing sign)
Support and resistance level says its a bearish move
Target 9900 level