Weaker Day ahead ?

 

1. Today NIFTY could not close above “A’.
2. Candlestick pattern 1 and 2 shows similarity. Of course, a confirmation is needed
3. The complete pattern shows that a head and Shoulders is being formed, which gets confirmed by a breakdown below B .
4. 2000NN is still in SHORT mode.
5. Hence, by Friday, there is a high chance that NIFTY breaks down below “B”, that is 5349, provided, it does not pierce and close above today’s high.