November 5, 2017

NIFTY Cloud Rising wedge and Hanging Man

  • 4 Hour trend line and the 30 Minutes cloud shows the strength of the trend. No hope for bears till the 30 Minutes act as support. First signs of weakness only if the cloud is broken and price closed below it.
  • There is a rising wedge in Hour and a Hanging Man in Daily. Bearish signals like these continue to struggle because of the strength of the trend. For the hanging man to gain some strength price need to open and close below the body of the Hanging man candlestick.