tag:blogger.com,1999:blog-2278954066508341391.post6543485569292223497..comments2023-11-15T12:37:54.936+05:30Comments on Indian Stock Markets: Hangman Candlestick! – so what?? Update for 26 Aug 09…S S Cheemahttp://www.blogger.com/profile/08648402715597232403noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2278954066508341391.post-76924124993718645482009-08-26T18:50:49.079+05:302009-08-26T18:50:49.079+05:30LOL - point given to you gracefully!LOL - point given to you gracefully!S S Cheemahttps://www.blogger.com/profile/08648402715597232403noreply@blogger.comtag:blogger.com,1999:blog-2278954066508341391.post-9784616087747823042009-08-26T18:11:01.052+05:302009-08-26T18:11:01.052+05:30As you say that options data may not expire too mu...As you say that options data may not expire too much above the 4700 level. True. expiry should be above 4700, making the bulls (market movers? (manipulators??) a winner. <br /><br />Also, in current market conditions, I guess we can take 2 to 3 days uni-directional movement or close as a trend. Even this range bound movement is 200 points plus in breadth, which is considerable for many and allows for the money to be made. <br /><br />In that sense, the appearance of hangman, if it would have been perfectly formed, could have signaled a reversal or atleast would have made me very, very cautious. <br />Just putting my foot in the mouth. Market, as you said in one of your last posts, is patiently waiting to prove me wrong.delhidjinnhttps://www.blogger.com/profile/06013466548833670520noreply@blogger.comtag:blogger.com,1999:blog-2278954066508341391.post-72167399724870662612009-08-26T12:13:28.815+05:302009-08-26T12:13:28.815+05:30SPH,
I agree with you - and I have mentioned that ...SPH,<br />I agree with you - and I have mentioned that a hangman should ideally be read as a reversal if we have had a trend in place and you are right that 2-3 days do not make a trend.<br />Secondly - the money supply that seems to have spiked may be because of rollovers. In any case the Option data will not let you expire too much above the 4700 level.S S Cheemahttps://www.blogger.com/profile/08648402715597232403noreply@blogger.comtag:blogger.com,1999:blog-2278954066508341391.post-7530641554352196182009-08-26T09:43:39.283+05:302009-08-26T09:43:39.283+05:30On the daily chart it does not look like a hangman...On the daily chart it does not look like a hangman, though it is close. there is a slight nose ahead and taking the three days of consolidation around 4350-70, then the 2 days of rise, then the so called hangman (it is not perfect)?, it is confusing, cannot be conclusively read as a warning sign, though may turn out. more bullish perhaps, in my view. Another minor bullish signal is money supply which showed a slight up swingdelhidjinnhttps://www.blogger.com/profile/06013466548833670520noreply@blogger.com