The huge post election gap needs to be filled or partially filled. On the weekly chart we see a Long-legged Doji candlestick pattern. Long legged doji patterns suggest great amount of indecision on the market. This pattern is formed when the prices trade well above and below the day opening price, but then close almost at the same level as the opening price. It means that the end result is not different from the initial open despite the whole excitement and high volatility during the day. This implies a loss of sense of direction and that there is great amount of indecision in the market.
Sunday, June 14, 2009
Nifty Weekly for June 15-19 - Inder Bhatia
The huge post election gap needs to be filled or partially filled. On the weekly chart we see a Long-legged Doji candlestick pattern. Long legged doji patterns suggest great amount of indecision on the market. This pattern is formed when the prices trade well above and below the day opening price, but then close almost at the same level as the opening price. It means that the end result is not different from the initial open despite the whole excitement and high volatility during the day. This implies a loss of sense of direction and that there is great amount of indecision in the market.
Posted by Anonymous at 8:55 PM
Labels: INDER BHATIA, NIFTY, NSE
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