On the week ending 07 April, Weekly candle ended with a doji candle. On week ending 13th April, nifty made a reverse hammer candle and thus it made an evening star. Market obeyed the technical. First in this uptrend market made two weekly bearish candles and 9 days lower lows.
First time in this uptrend market moved below 20days SMA. This all shows signal of market maturity.
Now Oscillators are in oversold zone. Nifty made a hammer type candle on 19th April. Low of the hammer is 9075. If the market break 9075 it invalidate hammer candle bullishness. On 20th April Market is moved up from oversold zone. Made the first clear higher high low after 9 days. Today (21 April) market made another higher high, but not able to sustain. Broke yesterdays low.
FIIS are become sellers in both cash and derivatives.
First time in this uptrend market moved below 20days SMA. This all shows signal of market maturity.
Now Oscillators are in oversold zone. Nifty made a hammer type candle on 19th April. Low of the hammer is 9075. If the market break 9075 it invalidate hammer candle bullishness. On 20th April Market is moved up from oversold zone. Made the first clear higher high low after 9 days. Today (21 April) market made another higher high, but not able to sustain. Broke yesterdays low.
FIIS are become sellers in both cash and derivatives.
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