NIFTY -- 3 BLACK CROWS vs MORNING STAR
Diupdate
Chart patterns looks interesting from both bull and bearish point of view
REASONS
BEARISH VIEW
1. 3 Black crows(perfect closing) with rise in volumes ( tradingview.com/support/solutions/43000583792-three-black-crows-bearish/
2. February monthly candle looks like BREAKDOWN candle with low tested the next month
3. Weekly H&S pattern in progress
4. Bullish flag Breakout candle (october 2022 candle) low got tested....sign of bears strength
BULLISH VIEW
1. Overall it is in uptrend(making higher highs and higher lows)
2. Morning star pattern (tradingview.com/support/solutions/43000583787-morning-star-bullish/)
3. DAILY time frame Inverted H&S pattern given Breakout
4. April 2023 candle looks like a breakout candle (volume only concern)
Let's wait and watch whether it is bulls or bears turn !!!!
NOTE- Just Sharing my view....not a tip nor advice!!!!
- mmjimm
REASONS
BEARISH VIEW
1. 3 Black crows(perfect closing) with rise in volumes ( tradingview.com/support/solutions/43000583792-three-black-crows-bearish/
2. February monthly candle looks like BREAKDOWN candle with low tested the next month
3. Weekly H&S pattern in progress
4. Bullish flag Breakout candle (october 2022 candle) low got tested....sign of bears strength
BULLISH VIEW
1. Overall it is in uptrend(making higher highs and higher lows)
2. Morning star pattern (tradingview.com/support/solutions/43000583787-morning-star-bullish/)
3. DAILY time frame Inverted H&S pattern given Breakout
4. April 2023 candle looks like a breakout candle (volume only concern)
Let's wait and watch whether it is bulls or bears turn !!!!
NOTE- Just Sharing my view....not a tip nor advice!!!!
- mmjimm
Catatan
Catatan
As expected, tough fight goes on!!At this stage, It is really tough to confirm with daily candles unless a Marubozu appears!!
Catatan
Marubozu appears!!!!(but volume not extraordinary!!!)let's see how the weekly candle closes tmrw!!!
Catatan
Yesterday Bullish Marubozu candle loses its meaning by today's bearish move!!
Weekly close below our trendline...forming a Shooting star favouring BEARS!!!
3 BLACK CROWS Sustains???!!!
Let's wait & watch!!!
Catatan
Daily timeframe!!Catatan
Today(08/05/23)...Good up move!!! Near Marubozu again(volume not extraordinary)still RSI weak!!! not rising!!!
up move or down move....we need a clear signal!!!
Catatan
Rectangle zone (level respected in the past)today- doji alike candle....still waiting for clear signal!!!
Maybe this Weekly close can provide that signal!!!
Catatan
10/05/23- hanging man ....but closing above open forming a green head.utter pressure!!!
Catatan
Weekly close still inside the Rectangle zone.Bank Nifty seems to be strong...but there too, RSI not showing strength
Divergence seen.
Bulls have to fight tough next week!!!
Bears still not opting out of the battle!!!
Catatan
Broad range Yesterday candle - BEARISH ENGULFING and BREAKDOWN out of the trendline support from march 23
today - good follow up (favour bears)
End of day, taking support @ box range
Catatan
Box range broken!!!!BEARS GETTING UPPER HAND ??!!!!
Catatan
Previous week candle's low got tested
weekly close below our trendline!!!
Catatan
Good show by bulls.Breakout in weekly and daily time frame!!!!(ordinary volume)
Bears vanishing from the frame???!!!
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