June 13, 2013
- Price near 200 Day SMA.
- Nifty also testing Golden ratio.
- Month chart shows price near Month Low EMA. If month low give support a turnaround is possible. One should also see the monthly chart for the perfect shooting star candlestick which is bearish and may give a bigger fall.on trading below month low EMA.
- Since the shooting star shown here is a monthly pattern It need a monthly close below 5 low EMA to confirm bearishness or strength of the shooting star or Inverted hammer.