Saturday, July 23, 2011

Suzlon closed at eod chart making spinning top

Suzlon  closed at eod chart making spinning top 
 When a candlestick with a short body in the middle of two long wicks forms in the market this is indicative of a situation where neither the buyers nor the sellers have won for that time period as the market has closed relatively unchanged from where it opened. The upper and lower long wicks however tell us that both the buyers and the sellers had the upper hand at some point during the time period the candle represents.
When you see this type of candlestick form after a runup or run down in the market it can be an indication of a pending reversal as the indescision in the market is representative of the buyers loosing momentum when this occurs after an uptrend and the sellers loosing momentum after a downtrend.
Is it true..?

Suzlon Jun qtr PAT down 109% at Rs 84 cr: KR Choksey

1 comment:

  1. SBI SHORT @ 2226/= 1lott. Pl.sir,Let me advise that it will come 21oo/= in Aug.-11 month or what should I've to do cover my loss.


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