Nifty started a new bullish trend during the first day of february which stopped at near 15450 levels
and since then nifty has been following a falling channel pattern and has corrected almost 8%.
Formation of an inverted hammer that too near the breakout point shows significant selling pressure
i believe, if we break the low of this hammer which is 14420 levels, then we will be going to test the 14100 levels again
the whole point here will be how market absorbs the covid situation and how investors react to all of the chaos around us.
i think the perfect long opportunity for anyone should be when we cross the highs of this inverted hammer that is 15050 levels
if we somehow cross the upper mark, we may get to see a retest of the all time high once again.
but, covid showed what a news can do to the market. So dont force your idea or speculate blindly right now. let us all focus on what price is showing to all of us and also take sentiments into consideration.
and since then nifty has been following a falling channel pattern and has corrected almost 8%.
Formation of an inverted hammer that too near the breakout point shows significant selling pressure
i believe, if we break the low of this hammer which is 14420 levels, then we will be going to test the 14100 levels again
the whole point here will be how market absorbs the covid situation and how investors react to all of the chaos around us.
i think the perfect long opportunity for anyone should be when we cross the highs of this inverted hammer that is 15050 levels
if we somehow cross the upper mark, we may get to see a retest of the all time high once again.
but, covid showed what a news can do to the market. So dont force your idea or speculate blindly right now. let us all focus on what price is showing to all of us and also take sentiments into consideration.