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And then there are times when Markets bounce after the formation of "Three Black Crows". Know how to differentiate? The Context. The Location.

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Not only the rising Trendline that's broken but also the price action indicates weakness. The first black candle could not be covered on retracement and now #ES is checking with the Lows. Chances are it can break down to 3130-3070 zone.

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Break below horizontal line can be Bearish for the Index.

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Not only the Trendline, Level of 1370 odd as marked can act as a crucial long term support.

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Looking at the last few days of Close to Next Day Open relationship, one can easily point out the lack of any clear mood that the Market is in. These haphazard movements are a telltale sign of a corrective structure, which as we understand is under formation on NIFTY. At this point, it looks like the fall is certainly not going to be a straight line and chances...

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.. it can stay within this compression till September. Hopefully Not. Quite coincidentally, US Elections are in November.

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Or, will the sell-off continue this time around? The follow through today is very important. Else, it could be negated.

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Chances of 11,726 open now.

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Compound Fulcrum. Can turn bullish above red trendline.

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Ideally, I like the close in top quartile. This is between 25-33%, so just about making it.

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Ascending Triangle Breakdown / failure with a very large Black Candle, eating away last 11 weeks move. High of this candle is of extreme importance now to change the sentiment in the stock.

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Break below Red Trendline can cause a bit of a correction. Not a case for any severe negativity.

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Need to watch-out.

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This can't be confused with Compound Fulcrum, as the height of Head and respective Shoulders is quite similar, also the inclines make them less reliable. Howsoever, this can still turn bullish but only if it breaks above the Green Trendline, and a break below Blue one, which has a higher probability IMO, makes the case for Bearish continuation.

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Next resistance zone at 9400-10000. Resistance Zone is not necessarily a reversal zone. Must check the behavior within the zone.

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Within -2 & -3 Standard Deviation Band right now.

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Presumably in its Wave C, can head up to 73.20-73.90 zone. Doubts on New High. Invalidation below Contracting Triangle's Wave C Low. Red Trendline can be used for Trailing.