Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Thursday, June 4, 2020

Classic Example of a Shooting Star

Daily Chart 

Bank Nifty made a classic "Shooting Star" yesterday and confirmed it's bearishness today.

The shooting star candlestick is a chart formation consisting of a candlestick with a small real body, and a large upper shadow. This pattern represents a potential reversal in an uptrend. Appearing at resistance makes it all the more reliable as in the case of Bank Nifty.

Only a strong move and close above the Shooting star will negate the bearishness.

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Happy Trading !!

Lakshmi Ramachandran

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