After 7 days of consecutive declines, markets closed in the positive. We had a strong gapup opening practically above previous day's highs but a closing near today's low.
Had the closing been near day's highs we could have had a superb morning star pattern... this is a reversal pattern and would have been reliable in the current context except for the closing near open.
The shape of current candle does not inspire much confidence. Anyway let us see how markets unfold next week. AS of now, we can expect some resistance near 6110 spot (6140 F).
Advance decline was positive. Option writing points to support at 6000 and resistance at 6300.
Intraday levels are shown in the chart...
30 min charts shows trend change from short positions to long positions.
Had the closing been near day's highs we could have had a superb morning star pattern... this is a reversal pattern and would have been reliable in the current context except for the closing near open.
The shape of current candle does not inspire much confidence. Anyway let us see how markets unfold next week. AS of now, we can expect some resistance near 6110 spot (6140 F).
Advance decline was positive. Option writing points to support at 6000 and resistance at 6300.
Intraday levels are shown in the chart...
30 min charts shows trend change from short positions to long positions.
