Nifty Technical Review

In the last post , i have mentioned that nifty weekly had Hanging man candle on it

But we need a confirmation of next session since it was a gap up hanging man and hanging man does require next session confirmation, whether its going to act as a Bearish reversal candle or a Bullish Continuation, hence a breakout out of this candle is required.

This candle shows that market faced resistance @ 9167 levels and selling is seen from those levels.

If i move to the hourly chart , it has Harmonic pattern called Gartley, having a prz zone of 9160-9170, which coincides with the hanging man candle resistance.

Thus any break above this levels would be required for the continuation of previous bullish trend.

Near term Support : 9030

Near Term Resistance, 9170, 9200