- trend is up on weekly charts (but down on daily charts)
- in 3 weeks, nifty has lost roughly 1000 points
- all weeks, we had a hammer candlestick which had no follow through buying
- note that a hammer at a top is bearish and bullish if it occurs after a downtrend
- this week's low is 10800 where we had very good buying coming
- this becomes SL for long positions
- a lot of rangebound trading may happen before a breakout happens - let's see
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjB7M88yxQ7BLMRtq6gWxj724znubwTXSoaYGB48rJra8hwIeBRcV6qKnmf80PxdlDihwKYhmWy5HuxOfNrvUbDDtRYTBJLaa1SZryi3FVk-XjkvskIo-F9YVgL8vNJvuzKqCXhyphenhyphenQk5jg1s/s640/a.png)
- in 3 weeks, nifty has lost roughly 1000 points
- all weeks, we had a hammer candlestick which had no follow through buying
- note that a hammer at a top is bearish and bullish if it occurs after a downtrend
- this week's low is 10800 where we had very good buying coming
- this becomes SL for long positions
- a lot of rangebound trading may happen before a breakout happens - let's see
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjB7M88yxQ7BLMRtq6gWxj724znubwTXSoaYGB48rJra8hwIeBRcV6qKnmf80PxdlDihwKYhmWy5HuxOfNrvUbDDtRYTBJLaa1SZryi3FVk-XjkvskIo-F9YVgL8vNJvuzKqCXhyphenhyphenQk5jg1s/s640/a.png)
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