THE BULLISH HAMMER CANDLESTICK PATTERN:
PRACTICAL LEARNING ON NIFTY 02.07.2021 AT 10:45 HRS
The bullish hammer candlestick pattern is frequently observed in share market and, like many Japanese candlesticks, provides important insight into market momentum. In particular, the bullish hammer can help to REVERSAL OF DOWNTREND.
Beginners can learn from this and ...
RSI closed below an important support line that was supporting it since May IInd Week,
though the index managed to find support today.
Many a times RSI provides a early warning.
RSI below 62 will be a confirmation of weakness and by then index will also come below the support line. 15601 remains an important support.
Bias Neutral to weak.
As per yesterday's Option OI...
15000PE & 15100PE has maximum writing, more than 40K Lots added at both strike.
Near resistance is at 15300CE (14699 Lots addition on 18th)
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