50% Retracement

Nifty has been in a bullish rally since the early August and the rally continued till september 3rd and on 6th september a spinning top candle appeared signalling a trend reversal followed by a second spinning top and further followed by a hanging man candle. We could see the tug of war between the bulls and the bears but the bears was not strong enough. but now as on 17th sep a pearsing pattern appeared anth reversal mey be confirmed by a gap down window and a red candle.

IT MAY BE A REVERSAL OF THE TREND AND THE REVERSAL MEY CONTINUE TILL 16800-16900 RANGE .