Note: 1.
Never enter on any green candle in downfall in lower low formation, you can enter a small quantity on position building support. you can wait for higher high formation. You can see in the nifty chart, On recovery, it is not breaking the low but it is sowing weakness near the previous high. It is the entry point for put buyer.
Note:2.
Again after 3 red candles 1 green candle was created with high volume, don't enter because market sentiment is negative, It is going lower low formation, wait for higher high confirmation and draw the channel, showing the best flag pattern, you can enter on channel breakdown for downside move.
Note: 3.
On a daily timeframe previous day Bank Nifty has created a shooting star at an all-time high.
Note. 4.
If 3 candles do not break the low just book profit don't wait.
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