Observe the last two 15 minutes candle of the nifty chart. The second last candle was an indecesive candle with huge volume than the following last candle is a green opening morubozu with a greater volume than the previous candle, formation of the both candle is a bullish engulfing pattern.
As per the previous nifty analysis for longer time frame my view was...
In weekly time frame ICICI bank had formed a symmetric triangle pattern and broked out of it, now it has successfully retested the BO. In daily time frame we could see that the stock is above 200,100,50 and crossed 20 ma today, price retested the 50ma and bounced back by forming a bullish engulfing on 10th January if closed higher on the next daily trading...
Bank nifty was facing rejection from 46300 level forming a resistance zone which was broken by a kind of break-away gap, not a traditional breakaway gap. The price retested the resistance zone 2 times, and it has come back to test it for 3rd time, so there is a change in polarity in bank nifty. My view is going to be bullish until the key zone that was broken out...
Nifty is trading inside a an ascending channel it formed a new high on 1/01/24 and then it consolidated for around 11 day's. My view in nifty will not turn bearish until the lower level of the channel is broken and i will remain neutral until the nifty is trading between the high of 08/01/24 candle and horizontal level at 21500 level. If nifty breaks the high of...
