NR7 FOLLOWED BY BEARISH ENGULFING THEN BULLISH ENGULFING
RARE COMBINATIONS. FRIDAY DAY'S CANDLE ENGULFS CANDLES OF PREVIOUS TWO DAYS.
HOWEVER IT HAS TO BE SEEN HOW MARKET TAKES THE RECENT ANNOUNCEMENTS.
IF MARKET GAPS UP AND FALLS ITS SUPPORTS ARE 11106,11030,11003,10974(IF GAPS UP ABOVE 11106)
AND NIFTY LIKELY FACE RESISTANCE AT 11148.
THEN LEVEL AT RETRACEMENT LEVEL IN THE CHART AND 200 DMA OF COURSE NEXT RESISTANCE LEVELS ARE 11270 AND 11305.
LET US HOPE THIS TIME SELL ON NEWS WON'T TAKE PLACE.
PREVIOUSLY ONCE SELLING WAS OBSERVED AT 200 DAYS SMA.
HOWEVER IT HAS TO BE SEEN HOW MARKET TAKES THE RECENT ANNOUNCEMENTS.
IF MARKET GAPS UP AND FALLS ITS SUPPORTS ARE 11106,11030,11003,10974(IF GAPS UP ABOVE 11106)
AND NIFTY LIKELY FACE RESISTANCE AT 11148.
THEN LEVEL AT RETRACEMENT LEVEL IN THE CHART AND 200 DMA OF COURSE NEXT RESISTANCE LEVELS ARE 11270 AND 11305.
LET US HOPE THIS TIME SELL ON NEWS WON'T TAKE PLACE.
PREVIOUSLY ONCE SELLING WAS OBSERVED AT 200 DAYS SMA.