Candle formation for Nifty on 11-07-2012 – Big hallow candle
with small lower & large upper shadow. This indicates that the trend is up.
Previous day’s candle was a dark body with no upper shadow. But we did not get
a confirmation of the trend reversal to down. Hence up trend continuous and let
us ride the profit.
Hekin Ashi daily chart for Nifty:
Heikin Ashi candles on hourly chart also formed a
large hollow blue candle with no lower & shadow. This indicates a strong up
trend continuing. Day before we saw a small real body candle with both upper
and lower shadow indicating the trend reversal [from down] Yesterday morning we
saw the confirmation for this with a hallow blue candle. Yesterday’s chart
shows how beautifully the candles provided support & resistance. I have
marked them in the hourly Heikin Ashi chart. Use the similar support &
resistance levels to go forward
Hekin Ashi hourlychart for Nifty:
No comments:
Post a Comment