Mangesh MWhere does Nifty Find Resistance ?
At the High of Nifty Future day's 1st 5 minute candle High i.e. near 24187
Another calculation ....
Spot Nifty day's 1st 5 minute candle High 24097.70 + 0.7389% = 24275.75
It's precise resistance for Nifty July Future.
Фотография
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12:10 and 12:15 hrs candle TOP reversal at Crucial Level. Low of 12:15 candle marked by Orange Line. It's A
12:20 hrs candle Close below Orange Line ....B
12:25 hrs candle Re Test Orange Line ... C
12:30 hrs Candle again Closes below Orange Line ....D
Downward trend ABCD complete. Result could be seen . Target of MOTL.24304.93 reached.
What is the definition of Top Reversal Candle ??
1) Current Candle Open is Greater than or Equal to Previous Candle Close .
2) Current Candle Open is Less than previous Candle High.
3) Current Candle High is Greater than Previous Candle High , and
4) Current Candle Close is Less than Previous Candle Close .
If this happens then Top Reversal Pattern is formed .
However the mere pattern isn't sufficient. Next day we need a Close below today's Low . That would be B. Then Retesting Low with a Green candle which is called C and then again Close below is called D.
Remember this.
Poor Rich Candle
1) Today's Open is Less than Previous day's Open.
2) Today's Low is Greater than Previous day's Low
3) Today's High is Greater than Previous day's High , and
4) Today's Close is Greater than Previous day's HIGH
This Two Candle Formation is Called Poor -Rich Candle . Next day's Close should be more than Today's High for Uptrend Confirmation .
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