- A sharp decline commenced with Bearish Engulfing , that dragged the Banknifty down by 38% from its high within 3 months.
- The consecutive series of Red Candles shows the ill health of Banknifty.
- A spinning Top & hammer pattern occured at 11 & 12 low count record session, as a result a reversal was expected.
- RSI indicator was also under oversold zone( under 30).
Friday, January 17, 2014
Bank NIfty- WEEKLY CHART ( Candles Record Session Lows )
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