https://s3.tradingview.com/snapshots/5/5HddoDxs.png
Nifty Price Volume Analysis:
1) Range of candles is wide, no wick , no sign of any supply
2) even after gap ups and slight pullback, strong demand came in, again wide range on upside, bearish candle got countered immediately
3) range of candles is slightly reducing, but long tails indicate demand is still present. good volumes as well in upmove
4) very narrow range candles, volume decreasing as price is moving up. buyers are getting exhausted.
5) a pullback is very likely at this stage, and it will only make the trend more healthy if it is contained within 5-8% range.
6) quality of pullback will determine whether we are at start of new uptrend, or whether this was a counter trend rally. Range and volume of candles, and what sectors lead market lower need to be examined
Nifty Price Volume Analysis:
1) Range of candles is wide, no wick , no sign of any supply
2) even after gap ups and slight pullback, strong demand came in, again wide range on upside, bearish candle got countered immediately
3) range of candles is slightly reducing, but long tails indicate demand is still present. good volumes as well in upmove
4) very narrow range candles, volume decreasing as price is moving up. buyers are getting exhausted.
5) a pullback is very likely at this stage, and it will only make the trend more healthy if it is contained within 5-8% range.
6) quality of pullback will determine whether we are at start of new uptrend, or whether this was a counter trend rally. Range and volume of candles, and what sectors lead market lower need to be examined
