It looks to be NIFTY is on the verge of forming a falling 3 candlestick pattern. To find the inside story, I looked at the 15 Min chart. See the chart pattern being formed…The current upward swing has now broken down and if it breaches, point "B', we might see a heavy drop forming a falling 3 pattern. I know it is too premature to assess it without waiting for the confirmation. But, as a precaution for those who are LONG , this assessment is being made.
