June 2, 2019

NIFTY monthly charts

- trend is up
- support 11000-10000

- this month's candle had a long lower wick
- after a rally, this is indicative of selling at higher levels (hanging man?)
- note if the same long wick happens AFTER a correction, it indicates buying at lower levels
- so the same candle can have different interpretation depending on the location of the candlestick in relation to the bigger trend




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