- Nifty spot daily chart is showing a shooting star or an inverted hammer pattern which is a bearish reversal pattern.
- Every candlestick pattern needs price confirmation. Example for price confirmation would be a touch of the 5 day low ema which Nifty has not done since this breakout happened.
- I have also added Nifty futures 5 minutes channel which shows a breakdown and the breakout line is acting as resistance.
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