On the weekly scale, the chart pattern seen is "marubozu".
How such patterns performed in NIFTY in the past?
Given below all such formations and the breakout direction. Some interesting statistics are also given herewith. Hope this analysis helps...
| NIFTY Weekly | |||||
| Number | From | To | Chart | Breakout | Breakout |
| | | | Pattern | Direction | Volume |
| 0 | 2/17/2003 | 2/17/2003 | Marubozu | Dn | Hi |
| 1 | 8/18/2003 | 8/18/2003 | Marubozu | Up | Hi |
| 2 | 12/15/2003 | 12/15/2003 | Marubozu | Up | Lo |
| 3 | 6/28/2004 | 6/28/2004 | Marubozu | Up | Hi |
| 4 | 6/13/2005 | 6/13/2005 | Marubozu | Up | Hi |
| 5 | 7/18/2005 | 7/18/2005 | Marubozu | Up | Hi |
| 6 | 7/25/2005 | 7/25/2005 | Marubozu | Up | Hi |
| 7 | 9/12/2005 | 9/12/2005 | Marubozu | Up | Hi |
| 8 | 9/26/2005 | 9/26/2005 | Marubozu | Dn | Lo |
| 9 | 3/27/2006 | 3/27/2006 | Marubozu | Up | Hi |
| 10 | 4/17/2006 | 4/17/2006 | Marubozu | Up | Hi |
| 11 | 5/1/2006 | 5/1/2006 | Marubozu | Dn | Hi |
| 12 | 8/27/2007 | 8/27/2007 | Marubozu | Up | Lo |
| 13 | 9/24/2007 | 9/24/2007 | Marubozu | Up | Hi |
| 14 | 12/24/2007 | 12/24/2007 | Marubozu | Up | Hi |
| 15 | 12/8/2008 | 12/8/2008 | Marubozu | Up | Hi |
| 16 | 12/15/2008 | 12/15/2008 | Marubozu | Dn | Hi |
| 17 | 3/23/2009 | 3/23/2009 | Marubozu | Up | Hi |
| 18 | 5/18/2009 | 5/18/2009 | Marubozu | Up | Hi |
| 19 | 8/24/2009 | 8/24/2009 | Marubozu | Up | Hi |
| 20 | 10/12/2009 | 10/12/2009 | Marubozu | Dn | Hi |
| 21 | 11/30/2009 | 11/30/2009 | Marubozu | Up | Hi |
| 22 | 6/14/2010 | 6/14/2010 | Marubozu | Up | Hi |
| 23 | 9/6/2010 | 9/6/2010 | Marubozu | | |
| UP Brrakoot | 18 | ||||
| Down Breakout | 5 | ||||
| Up Breaakout with High volume | 16 | ||||
| Up Breaakout with Low volume | 2 | ||||
| Down Breakout with High Vol | 4 | ||||
| Down Breakout with Low Vol | 1 | ||||
| Breakout Gap | None | ||||
