“A break below these levels (7,770-7,750) could put the market in trouble and in a deep correction. The candlestick pattern suggests a somewhat bearish engulfing pattern, that too on an event day, which suggests Nifty50 is now in a grip of the bears. On the last trading session of the week, the bears will try to close on a strong note,” Mustafa Nadeem, CEO, Epic Research, told ETMarkets.com.
Thursday 19 May 2016
Tech view: Nifty50 forms ‘bearish belt hold’ pattern on charts; bears take lead
22:09
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“A break below these levels (7,770-7,750) could put the market in trouble and in a deep correction. The candlestick pattern suggests a somewhat bearish engulfing pattern, that too on an event day, which suggests Nifty50 is now in a grip of the bears. On the last trading session of the week, the bears will try to close on a strong note,” Mustafa Nadeem, CEO, Epic Research, told ETMarkets.com.
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