Candle formation for Nifty on 17-07-2012 – Giant red candle
with large real body, no upper shadow and a large lower shadow. This indicates
a strong downward trend. However we need to keep in mind that market took very
nice support as shown in the daily candle chart.
Heikin Ashi candles on hourly chart – Giant red candle with
large real body, no upper shadow and a large lower shadow. This indicates a
strong downward trend.
Nifty Heikin Ashi Daily candle chart:
Nifty Heikin Ashi Hourly candle chart:
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