My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
July 12, 2010
A Doji at the top of the trend
Nifty has formed a doji at the top. It can be classified as a Spinning Top as well. What ever it is the pattern is showing indecision between buyers and sellers at the top of the trend.
If bearish candles follows the trend will turn negative.
Dear San, NF never traded convincingly above 5390 after touching the intraday low of 5355.The EOD data will be interesting to follow but at least at present up to EOD data one can say that in spite of up move not a good close.
Dear San,
ReplyDeleteNF never traded convincingly above 5390 after touching the intraday low of 5355.The EOD data will be interesting to follow but at least at present up to EOD data one can say that in spite of up move not a good close.
@Mynac
ReplyDeleteI agree with you the decision to close above 5400 is taking time. And the longer it takes the riskier it is for the bulls.
Let's see if dow and s&p help the bulls tomorrow morning with yet another gap up.