Positive to gap up opening is expected eod nifty candle closed making perfect hammer at extremely oversold zone..need confirmation for a up swing ..traders are betting that now it will retrace to up side and I feel Nifty is trading in ABC pattern at 5700 -6100 let us see.Perfect hammer/doji combo candle at eod chart ..we can expect 6150 and above within 90 days …up trending line – blue is intact..
Positive indication Hammer
Trade in nifty Futures as per these levels
Buy at / above: 5795 Targets: 5811 – 5830 – 5849 – 5868
Stoploss : 5776
Sell at / below: 5776 Targets: 5759 – 5740 – 5722 – 5703
Stoploss : 5795
The hammer is another candle pattern that many traders rely on. It is supposed to act as a bullish reversal and testing reveals that it does 60% of the time, placing the reversal rank at 26. That is quite respectable. Once price reverses, though, it does not travel far based on the overall performance rank of 65 where 1 is best out of 103 candle types.
Hammer’s Important Results
Theoretical performance: Bullish reversal
Tested performance: Bullish reversal 60% of the time
Frequency rank: 36
Overall performance rank: 65
Best percentage meeting price target: 88% (bull market, up breakout)
Best average move in 10 days: -4.12% (bear market, down breakout)
Best 10-day performance rank: 48 (bear market, down breakout)
All ranks are out of 103 candlestick patterns with the top performer ranking 1. “Best” means the highest rated of the four combinations of bull/bear market, up/down breakouts.
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Positive Nifty opening expected on 01 August 13
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Gold silver Calls
The gold is positively working at 58589.00 up 82 points, the crude oil and mentha oil maintained their position till morning session and still looking bullish free trading tips and nse bse tips
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