BANK NIFTY wl1 stumbling line?
已更新
As predicted on my previous posts it reaches wl1(warning line)
of pitch fork but could not cross it.
It is short of warning sign of reversal.
in many cases reversal do take place from warning line of pitch fork.
Friday's candle did not enter in to the territory of bullish candle of Thrusday.
and short of abandoned baby(bearish) though investopedia defines abandoned baby as doji,Friday's candle was more bearish than doji.
so what we can infer from the overall chart pattern? trend reversal?
certainly not unless there is gap down opening tomorrow and a bearish candle .and through out the day that gap is
maintained .
so it is too early to decide that.
Bank nifty happens to be best performing index.
On closing basis if you check carefully it had closed at all time high last month.
On wave counts it has been rising impulsively,
there may be temporary correction before it continues its upside.
please go thrugh my recent posts of bank nifty.
don't forget to like my post.follow me to get updates
of pitch fork but could not cross it.
It is short of warning sign of reversal.
in many cases reversal do take place from warning line of pitch fork.
Friday's candle did not enter in to the territory of bullish candle of Thrusday.
and short of abandoned baby(bearish) though investopedia defines abandoned baby as doji,Friday's candle was more bearish than doji.
so what we can infer from the overall chart pattern? trend reversal?
certainly not unless there is gap down opening tomorrow and a bearish candle .and through out the day that gap is
maintained .
so it is too early to decide that.
Bank nifty happens to be best performing index.
On closing basis if you check carefully it had closed at all time high last month.
On wave counts it has been rising impulsively,
there may be temporary correction before it continues its upside.
please go thrugh my recent posts of bank nifty.
don't forget to like my post.follow me to get updates
注释
注释
the above is monthly chart of bank niftythough all time high was in october last year.
on closing basis it had last month
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