Thomas Bulkowski would be proud after me identifying this pattern on Nifty 5 min chart, it’s a very rare pattern only to be found in FII driven markets like the NIFTY. A Song inspired by this pattern has become an rage or rather anthem with Gen Y, for the uninitiated, it goes like this – Y this Kolaveri di? … the song has also recently adopted by BJP after the FDI debacle with minor modification though – Y this Kolaveri Behenji?
Below the Y Pattern on Nifty 5 min chart.
On a serious note Daily chart for Nifty is also attached with my brief notes
Nifty 5 min chart – didn’t know what to do hence, did nothing … Khaya peeya kuch nahi glass phoda bara anna
Nifty Daily – I expect more Inside Bars forming within the Hanging Man Candle for next week. As mentioned earlier, Nifty is within the range of 5850 – 5950 levels. It has tested both the levels once, lets see if the next test will result in break out/down. Conservative Traders wait for Break Out/Down …
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