Daily Chart
Reacted at the downtrendline from 13304.The candle formed a hanging man which is a bearish reversal pattern.The lower shadow is two times the length of the body and the real body is at the upper end of the trading range.There is a very small upper shadow. All criterias fulfilled.The gap up opening today makes the possibility of a reversal stronger.The hanging man however requires confirmation of it's bearishness from tomorrow's candle.Over bought oscillators strengthen the possible bearish view.
The hanging man is an alert that the short term uptrend may reverse. Wait for more confirmation as the bias is still positive with a higher high and higher low.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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