December 4, 2016

NIFTY weekly charts

- trend is down on weekly charts
- last week's hammer failed to create any sustainable buying this week
- this week, markets formed a doji with long upper tail (inverted hammer)
- now last week's low (7900) and this week's high (8250) will be crucial for this month
- option writing clues are confusing and may be hinting at increased volatility

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