Nifty current monthly Candle stick Chart
As per my candle stick reading this month will form a evening star on charts. The candle which will form in this month of may has been plotted by me in the next chart..
Expected Nifty chart at the end of this month.
Here you can notice that the yellow candle i have made is a hypothetical candle and I expect this months end will look something like this,
The other most important aspect is that it will break the monthly trend line which has been formed since the lows of October 2008. Moreover this month is a open high candle.
I think this is the best time to sell with a stop loss of 5310. Book profits in your portfolio and watch the markets tank in coming months.The downside from here can be up to 4900 and if markets slips below 4800 downside can be even significant. This point gives the maximum risk reward ratio as risk from here is 2% while down side is up to 6 to 8%. which implies a risk reward ratio of 1:3 to 1: 4
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