- Month candle shows the 200 plus points recovery But with one more day for month close the month candle is likely to be a Doji one. If March month is going to be a bearish one, Month will complete a Bearish set up.
- 4 Hour chart shows a possible rising wedge pattern. This mostly ends in favour of bears.
- 30 Minutes chart shows price trending above the cloud. Bears need a cloud break in this time frame to see weakness.
February 27, 2018
- Nifty hour chart is testing resistance zone
- Day is also struggling at 50 Day SMA. Bulls will gain more strength only if price closes above 50 Day SMA. Day close at the current levels or lower will be negative for bulls.
- Month chart is shown with crucial price zone of 10530. Month close below this level will confirm bearish engulfing in Month chart. So with one more day to go for month close this price action is important.