Watch out for NSE:HINDZINC if tomorrow it breaks 328, it is a good short candidate as a beautiful bearish pinbar formed today which is signaling a reversal...
So watch out... but don't jump in the trade as 330 is a support level
NSE:YESBANK has broken support of 325-330 and today a pin bar formed at its support which converted it to resistance , so i will short yesbank tomorrow if it fails to trade above 320. my target is 305-300. So what are your view?
It is been observed on Weekly chart that the price action forms a bearish pin-bar candlestick pattern indicating rejection of higher price action and seller dominance over price action. Now, it shall further move down to next support levels.
Target 1: 800
Target 2: 750
It is been observed on daily chart that the price action forms a Bearish Pin Bar Candlestick formation indicating Buyers exhaution and Sellers taking over the price action. It shall further put the price action down to previous support levels at around 74.
On hourly chart, it is been observed that the price action forms bearish Pin-Bar pattern that indicates rejection of higher prices and weakness. It also states that there is high selling pressure from sellers that shall take the price down. It is also important to note that there is a GAP on hourly chart that shall be filled during the weakness. Therefore, it will...
It is been observed that the selling pressure is high due to which buyers are having hard time to pick up the prices. Previously the bearishness was confirmed by the formation of PINBAR Candlesticks pattern that indicates weakness and rejection of higher prices. Therefore it is a good time to short at current levels for target 1240 Stoploss 1351
The pinbar candlesticks indicates rejection of prices on high levels and also indicates selling pressure at resistance levels. In the above chart, 1380 -1350 acting as resistance zone where we can see rejection of prices due to high selling pressure. The prices may go down to the previous 52 Week high levels to regain buyers in the momentum and also confirmed it...
The Pin Bar Candlesticks formation indicates change in trend. If it is found near important resistance level then it signals selling pressure and rejection of prices on high level as indicated the above chart.
Therefore, it is an important formation to measure market sentiments and as per above chart it indicates high selling pressure or profit taking signals...