January 28, 2012

NIFTY Weekend Update

  • Everything looks bullish here except for the Hanging Man at 200 SMA
  • The Selling zone post showed recently may not work If the Hanging Man fails.
  • Hanging man pattern is not a strong indicator It need a Gap Down a Lower close and High volume to confirm the bearishness of this pattern.
  • Weekly line chart looks good for bulls. Bears shall hope that this is a false spike above the down trend line.

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