Maribouzu candles are warning to the current trend and tell the next trend that is in motion.
NIFTYBANK produced one such yesterday (leaving very minor wicks).
Similar Maribouzu did appear on 29 April and the markets celeberated, but slowly the decent gave way all the gains.
Will that be the case this time also?
1. The rise is from the lowest point of trend-line
2. Last time when it rallied from that trend line the price action moved from 46579 to the near 50 K, that sense we have room to move past the 50 K.
3. What the other side, US interest rates spike, US dollar ascends, Asian Markets weak, so the up move can be challenged.
4. The supply becomes support and vice versa. We get to the new range 47300-48300.
5. NIFTYBANK true to its nature, takes U turn from the extremes and we are not in the extremes we are at the middle.
6. Some profit taking is in order, but any close today below 48500 frustrates the up move.
Support 48550-48350
Supply 48830-48930-49150
NIFTYBANK produced one such yesterday (leaving very minor wicks).
Similar Maribouzu did appear on 29 April and the markets celeberated, but slowly the decent gave way all the gains.
Will that be the case this time also?
1. The rise is from the lowest point of trend-line
2. Last time when it rallied from that trend line the price action moved from 46579 to the near 50 K, that sense we have room to move past the 50 K.
3. What the other side, US interest rates spike, US dollar ascends, Asian Markets weak, so the up move can be challenged.
4. The supply becomes support and vice versa. We get to the new range 47300-48300.
5. NIFTYBANK true to its nature, takes U turn from the extremes and we are not in the extremes we are at the middle.
6. Some profit taking is in order, but any close today below 48500 frustrates the up move.
Support 48550-48350
Supply 48830-48930-49150
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