Gravestone Doji is a specific Doji with opening and closing prices equal to the low of the day. The Bullish Gravestone Doji Pattern is a bottom reversal pattern. Similar to its cousin the Bullish Inverted Hammer Pattern, it occurs in a downtrend and represents a possible reversal of trend.
1. Market is characterized by downtrend.
2. We see...
Studying Bank Nifty charts on multiple time frames, We can see bank nifty make or break outside the trading range formed today. There is strong resistance which has been rejected 5 times and has never given a close above it. Expiry play should be interesting with Nifty Bank trying to again to cross the resistance (31720) and if rejected should see the very rapid...
On observing that Nifty has made a double top and has never actually successfully closed above 11856. Every time it opened with a gap and went higher got rejected and made lows!!! I believe nifty 11856 is a good resistance zone (unless closes above this point) and can take short positions on Index futures for atleast the next 3 months.
Go short in Adani Enterprise if can't stay above Rs.148.20 for more than 5 minutes, Entry point to get short in Adani Ent is at or below Rs.147 for downside target of Rs.144.10,----- Rs.141.10------Rs.138.15, keep trailing stop loss starting at Rs.150 for this trade.