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Friday, January 27, 2012

EOD Analysis CNX Nifty - 27 01 2012 - Hanging on to the 200DMA

Nifty - End of Day Chart - 27  Jan  2012
We checked out some Candle patterns in the past couple of weeks. The one circled in red here. The one in Blue here. The Nifty saw and conquered the 200 DMA and is hanging on with the candle pattern shown in green :) Here are some weekend reads from some free resources on the net. The question now is ... Bullish continuation or Bearish reversal ?


Hanging Man


http://www.thepatternsite.com/HangingMan.html
http://www.investopedia.com/terms/h/hangingman.asp#axzz1kf2t3zO9
http://www.candlesticker.com/Cs26.asp