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Friday, 8 April 2016
Today's Indian Share Market Trading Tips and Analysis
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The Nifty50 lost momentum from the word go on Thursday and formed a 'Bearish Belt Hold' pattern on the daily candlestick chart. It ended the day below the psychological levels of 7,580 and 7,550, dropping signals that it may slide towards 7,400.A Bearish Belt Hold pattern signals trend reversal. Its significance gets amplified when the pattern emerges after a consolidation phase, like the one seen in the previous session.
The BSE Sensex fell to a three-week low on Thursday as investors took gains off the table, continuing to book profits in recent outperformers as the upcoming quarterly reporting season is expected to be weak.The benchmark BSE Sensex shed 0.86 percent to close at 24,685.42, its lowest since March 17.
The Nifty50 lost momentum from the word go on Thursday and formed a 'Bearish Belt Hold' pattern on the daily candlestick chart. It ended the day below the psychological levels of 7,580 and 7,550, dropping signals that it may slide towards 7,400.A Bearish Belt Hold pattern signals trend reversal. Its significance gets amplified when the pattern emerges after a consolidation phase, like the one seen in the previous session.
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