After creating a small double top pattern DSEX was unable to break the neckline and created a hammer/Pinbar right at neckline and the following candle was a Green Marubuzo indicated upward move and DSEX reached 4700 zone where lies a strong resistance zone. For the last 8 trading days index stuck at the resistance zone and most candle during this period created some higher shadow along with some volume/TO activity which is asking for some precaution.
N.B. Technical analysis is a study of probability, it is not a rocket science. A Technical analyst can be wrong. Please be reasonable and trade as per what you see not what other people see.
N.B. Technical analysis is a study of probability, it is not a rocket science. A Technical analyst can be wrong. Please be reasonable and trade as per what you see not what other people see.
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